Spectrum Brands (NYSE:SPB) Sets New 1-Year High – Should You Buy?

Spectrum Brands Holdings Inc. (NYSE:SPB)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $91.42 and last traded at $90.24, with a volume of 10232 shares changing hands. The stock had previously closed at $88.81.

Analyst Ratings Changes

SPB has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $81.00 target price on shares of Spectrum Brands in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Spectrum Brands in a report on Tuesday, July 21st. Wells Fargo & Company upped their price objective on shares of Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Finally, Canaccord Genuity Group reduced their target price on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, June 17th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Spectrum Brands currently has an average rating of “Moderate Buy” and an average price target of $87.00.

Spectrum Brands Trading Up 1.1%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29. The firm has a 50-day moving average of $82.98 and a 200-day moving average of $77.48. The firm has a market capitalization of $2.06 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.21. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The firm had revenue of $708.90 million during the quarter, compared to the consensus estimate of $676.45 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.88 annualized dividend and a yield of 2.1%. Spectrum Brands’s dividend payout ratio is presently 35.88%.

Insider Transactions at Spectrum Brands

In other news, CEO David M. Maura acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the completion of the transaction, the chief executive officer owned 790,708 shares of the company’s stock, valued at $57,603,077.80. The trade was a 0.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Spectrum Brands

Several large investors have recently modified their holdings of the business. Amundi purchased a new stake in Spectrum Brands in the 1st quarter worth approximately $176,000. Millennium Management LLC increased its stake in shares of Spectrum Brands by 64.7% during the first quarter. Millennium Management LLC now owns 166,496 shares of the company’s stock valued at $11,913,000 after buying an additional 65,424 shares during the period. NewEdge Advisors LLC lifted its stake in Spectrum Brands by 173.0% in the first quarter. NewEdge Advisors LLC now owns 5,389 shares of the company’s stock worth $386,000 after acquiring an additional 3,415 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Spectrum Brands by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company’s stock valued at $28,125,000 after acquiring an additional 114,143 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Spectrum Brands by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 111,571 shares of the company’s stock valued at $7,983,000 after acquiring an additional 6,321 shares in the last quarter.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.