Spectrum Brands (NYSE:SPB) Sees Strong Trading Volume

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Get Free Report) saw strong trading volume on Tuesday . 629,790 shares traded hands 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 analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Spectrum Brands from $85.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Friday, May 10th. Monness Crespi & Hardt increased their price objective on shares of Spectrum Brands from $98.00 to $106.00 and gave the stock a "buy" rating in a research report on Friday, May 10th. Canaccord Genuity Group lowered Spectrum Brands from a "buy" rating to a "hold" rating and upped their target price for the stock from $83.00 to $86.00 in a research report on Friday, February 9th. Canaccord Genuity Group lifted their price target on shares of Spectrum Brands from $86.00 to $92.00 and gave the company a "hold" rating in a research report on Friday, May 10th. Finally, Oppenheimer lifted their price target on Spectrum Brands from $88.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, May 10th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Spectrum Brands presently has a consensus rating of "Hold" and a consensus price target of $99.86.

Spectrum Brands Stock Up 0.9 %

The firm has a market capitalization of $2.76 billion, a P/E ratio of 1.92, a price-to-earnings-growth ratio of 0.40 and a beta of 1.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.73 and a quick ratio of 3.05. The stock has a fifty day moving average of $85.29 and a 200 day moving average of $80.55.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its earnings results on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $1.13. Spectrum Brands had a net margin of 68.11% and a return on equity of 6.43%. The firm had revenue of $718.50 million for the quarter, compared to analysts' expectations of $708.54 million. The company's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.14) earnings per share. On average, research analysts anticipate that Spectrum Brands Holdings, Inc. will post 4.68 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, May 24th. Spectrum Brands's dividend payout ratio is currently 3.40%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SPB. LSV Asset Management purchased a new stake in shares of Spectrum Brands during the fourth quarter worth $35,216,000. AQR Capital Management LLC grew its holdings in Spectrum Brands by 1,376.7% during the 3rd quarter. AQR Capital Management LLC now owns 320,091 shares of the company's stock valued at $25,079,000 after buying an additional 298,415 shares in the last quarter. Norges Bank purchased a new stake in shares of Spectrum Brands in the fourth quarter worth about $20,652,000. Pzena Investment Management LLC lifted its stake in Spectrum Brands by 21.7% in the 1st quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company's stock worth $117,091,000 after purchasing an additional 234,784 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Spectrum Brands during the third quarter valued at $13,127,000.

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.