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

Key Points

• Spectrum Brands Holdings Inc. has declared a quarterly dividend of $0.47 per share, with the payment date set for September 23rd for shareholders recorded by August 26th, representing a 3.5% dividend yield.
• The company reported earnings of $0.68 per share for the last quarter, which fell short of analysts' expectations of $1.35, along with a revenue decrease of 6% compared to the previous year.
• Spectrum Brands' stock has seen an increase of 2.3%, trading at $54.18, while maintaining a payout ratio of 40% indicating that the dividend is well-covered by earnings.

Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report) announced a quarterly dividend on Tuesday, August 5th, RTT News reports. Shareholders of record on Tuesday, August 26th will be paid a dividend of 0.47 per share on Tuesday, September 23rd. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, August 26th.

Spectrum Brands has a payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Spectrum Brands to earn $5.81 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 32.4%.

Spectrum Brands Price Performance

NYSE:SPB traded down $0.50 during trading hours on Friday, reaching $56.36. The company had a trading volume of 566,093 shares, compared to its average volume of 602,890. The stock has a 50-day moving average of $55.11 and a two-hundred day moving average of $64.73. Spectrum Brands has a one year low of $50.73 and a one year high of $96.62. The firm has a market capitalization of $1.38 billion, a PE ratio of 21.03 and a beta of 0.86. The company has a quick ratio of 1.40, a current ratio of 2.34 and a debt-to-equity ratio of 0.34.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.24 EPS for the quarter, missing analysts' consensus estimates of $1.25 by ($0.01). The firm had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. Spectrum Brands had a return on equity of 5.19% and a net margin of 2.56%. Spectrum Brands's revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 earnings per share. Analysts forecast that Spectrum Brands will post 5.06 earnings per share for the current year.

Insider Buying and Selling at Spectrum Brands

In other news, CEO David M. Maura sold 66,000 shares of Spectrum Brands stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $65.53, for a total value of $4,324,980.00. Following the completion of the transaction, the chief executive officer directly owned 723,607 shares in the company, valued at approximately $47,417,966.71. The trade was a 8.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is owned by corporate insiders.

Institutional Trading of Spectrum Brands

Institutional investors and hedge funds have recently modified their holdings of the business. Intech Investment Management LLC bought a new position in Spectrum Brands during the 2nd quarter valued at approximately $415,000. SG Americas Securities LLC bought a new position in Spectrum Brands during the 2nd quarter valued at approximately $218,000. Geode Capital Management LLC raised its position in Spectrum Brands by 39.6% during the 2nd quarter. Geode Capital Management LLC now owns 606,272 shares of the company's stock valued at $32,137,000 after purchasing an additional 172,132 shares during the last quarter. ProShare Advisors LLC bought a new position in Spectrum Brands during the 2nd quarter valued at approximately $310,000. Finally, Bank of New York Mellon Corp raised its position in Spectrum Brands by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 304,206 shares of the company's stock valued at $16,123,000 after purchasing an additional 1,492 shares during the last quarter.

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.