Spectrum Brands Holdings Inc. (NYSE:SPB) Declares $0.47 Quarterly Dividend

Key Points

• Spectrum Brands declared a quarterly dividend of $0.47 per share, payable September 22 to shareholders of record on August 25. The dividend implies an annualized payout of $1.88 and a 2.1% yield.
• The dividend appears well covered, with a current payout ratio of 40% and an expected forward payout ratio of 34.3% based on projected earnings of $5.48 per share.
• Spectrum Brands reported quarterly EPS of $1.25, beating estimates by $0.21, while revenue rose 4.9% year over year to $708.9 million. The stock opened at $90.58 and trades near its 52-week high of $92.29.

Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report) declared a quarterly dividend on Wednesday, August 5th. Shareholders of record on Tuesday, August 25th will be paid a dividend of 0.47 per share on Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, August 25th.

Spectrum Brands has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Spectrum Brands has a dividend payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Spectrum Brands to earn $5.48 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 34.3%.

Spectrum Brands Stock Performance

Spectrum Brands stock opened at $90.58 on Thursday. The company's 50-day moving average price is $85.02 and its 200-day moving average price is $78.95. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.08 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 2.86 and a beta of 0.63. Spectrum Brands has a twelve month low of $49.99 and a twelve month high of $92.29.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.21. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The firm had revenue of $708.90 million during the quarter, compared to the consensus estimate of $676.45 million. During the same quarter last year, the firm earned $0.68 EPS. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Spectrum Brands will post 5.32 EPS for the current fiscal year.

Insider Activity at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura bought 2,500 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $72.85 per share, with a total value of $182,125.00. Following the completion of the purchase, the chief executive officer owned 790,708 shares in the company, valued at $57,603,077.80. This represents a 0.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position in Spectrum Brands by 374,119.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company's stock valued at $129,779,000 after acquiring an additional 2,196,079 shares during the last quarter. Callodine Capital Management LP lifted its position in shares of Spectrum Brands by 20.4% during the fourth quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company's stock worth $122,013,000 after purchasing an additional 350,261 shares during the last quarter. LSV Asset Management lifted its position in shares of Spectrum Brands by 2.9% during the fourth quarter. LSV Asset Management now owns 602,980 shares of the company's stock worth $35,624,000 after purchasing an additional 17,100 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Spectrum Brands by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 579,941 shares of the company's stock valued at $34,263,000 after purchasing an additional 33,194 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Spectrum Brands by 71.2% in the second quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company's stock worth $28,606,000 after purchasing an additional 224,481 shares during the last quarter.

About Spectrum Brands

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.

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