Spectrum Brands (NYSE:SPB) Sees Unusually-High Trading Volume

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) saw an uptick in trading volume on Tuesday . 629,790 shares were traded during mid-day trading, an increase of 62% from the previous session’s volume of 388,112 shares.The stock last traded at $94.42 and had previously closed at $93.74.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Monness Crespi & Hardt lifted their price objective on Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Wells Fargo & Company raised their target price on shares of Spectrum Brands from $85.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Royal Bank of Canada boosted their price target on shares of Spectrum Brands from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Canaccord Genuity Group downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $83.00 to $86.00 in a report on Friday, February 9th. Finally, Canaccord Genuity Group raised their price target on Spectrum Brands from $86.00 to $92.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $99.86.

Spectrum Brands Trading Down 2.1 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.05 and a current ratio of 3.73. The firm has a 50-day moving average of $85.65 and a 200-day moving average of $80.76. The firm has a market capitalization of $2.70 billion, a P/E ratio of 1.87, a price-to-earnings-growth ratio of 0.41 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.49 by $1.13. Spectrum Brands had a net margin of 68.11% and a return on equity of 6.43%. The business had revenue of $718.50 million during the quarter, compared to analysts’ expectations of $708.54 million. During the same quarter in the prior year, the company posted ($0.14) EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that Spectrum Brands Holdings, Inc. will post 4.68 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Friday, May 24th. Spectrum Brands’s dividend payout ratio (DPR) is currently 3.40%.

Hedge Funds Weigh In On Spectrum Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EMC Capital Management purchased a new stake in shares of Spectrum Brands in the 1st quarter worth about $192,000. Tidal Investments LLC lifted its holdings in Spectrum Brands by 66.0% in the first quarter. Tidal Investments LLC now owns 13,778 shares of the company’s stock worth $1,226,000 after buying an additional 5,480 shares during the period. Redwood Investment Management LLC boosted its position in Spectrum Brands by 3.1% during the 1st quarter. Redwood Investment Management LLC now owns 78,447 shares of the company’s stock valued at $6,983,000 after acquiring an additional 2,355 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of Spectrum Brands during the 1st quarter worth approximately $335,000. Finally, Caxton Associates LP bought a new position in shares of Spectrum Brands in the 1st quarter worth approximately $792,000.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.