Spectrum Brands Holdings, Inc. (NYSE:SPB) Short Interest Update

Spectrum Brands Holdings, Inc. (NYSE:SPB) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 1,240,000 shares, a decline of 13.3% from the August 31st total of 1,430,000 shares. Approximately 4.6% of the company’s stock are short sold. Based on an average trading volume of 392,500 shares, the short-interest ratio is currently 3.2 days.

Institutional Trading of Spectrum Brands

Several hedge funds have recently made changes to their positions in the stock. Fidelis Capital Partners LLC bought a new stake in Spectrum Brands in the first quarter valued at $27,000. Central Pacific Bank Trust Division acquired a new position in Spectrum Brands during the 1st quarter valued at about $30,000. Versant Capital Management Inc boosted its stake in Spectrum Brands by 1,923.8% during the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after purchasing an additional 404 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new position in Spectrum Brands in the 1st quarter worth about $42,000. Finally, Quarry LP increased its stake in shares of Spectrum Brands by 375.0% in the second quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after purchasing an additional 450 shares during the period.

Spectrum Brands Price Performance

Shares of SPB opened at $93.79 on Monday. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 1.90, a PEG ratio of 0.33 and a beta of 1.22. Spectrum Brands has a 52 week low of $65.27 and a 52 week high of $96.74. The stock has a 50 day moving average of $89.64 and a 200-day moving average of $87.57.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, August 8th. The company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The business had revenue of $779.40 million for the quarter, compared to analyst estimates of $750.97 million. During the same period last year, the company posted $0.75 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts forecast that Spectrum Brands will post 4.78 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Tuesday, August 27th. Spectrum Brands’s payout ratio is 3.40%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SPB. Royal Bank of Canada reissued an “outperform” rating and set a $114.00 target price on shares of Spectrum Brands in a research report on Friday, June 7th. Deutsche Bank Aktiengesellschaft raised their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Company boosted their price target on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Canaccord Genuity Group lowered their price objective on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Finally, UBS Group upped their target price on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $101.88.

Spectrum Brands Company Profile

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.