Spectrum Brands Holdings Inc. (SPB) Sees Large Volume Increase

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Spectrum Brands Holdings Inc. (NYSE:SPB) saw unusually-strong trading volume on Tuesday . Approximately 512,873 shares traded hands during mid-day trading, an increase of 76% from the previous session’s volume of 291,338 shares.The stock last traded at $134.54 and had previously closed at $133.45.
A number of analysts have recently commented on the stock. Jefferies Group reissued a “buy” rating on shares of Spectrum Brands Holdings in a research note on Thursday, August 25th. Piper Jaffray Cos. assumed coverage on shares of Spectrum Brands Holdings in a research note on Thursday, September 1st. They set an “overweight” rating and a $147.00 target price for the company. Deutsche Bank AG reissued a “buy” rating and set a $140.00 target price (up previously from $125.00) on shares of Spectrum Brands Holdings in a research note on Sunday, July 24th. Zacks Investment Research cut shares of Spectrum Brands Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. Finally, Monness Crespi & Hardt boosted their target price on shares of Spectrum Brands Holdings from $125.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Spectrum Brands Holdings currently has a consensus rating of “Buy” and a consensus target price of $136.50.
The firm has a 50-day moving average price of $128.51 and a 200-day moving average price of $115.90. The firm has a market cap of $7.99 billion and a PE ratio of 27.33.

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Spectrum Brands Holdings (NYSE:SPB) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.04. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts anticipate that Spectrum Brands Holdings Inc. will post $5.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 13th. Investors of record on Tuesday, August 16th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Friday, August 12th.
In other Spectrum Brands Holdings news, Chairman David M. Maura purchased 4,350 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The stock was purchased at an average price of $114.52 per share, for a total transaction of $498,162.00. Following the purchase, the chairman now directly owns 277,633 shares in the company, valued at $31,794,531.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stacey L. Neu sold 800 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $128.04, for a total transaction of $102,432.00. Following the sale, the senior vice president now owns 3,850 shares of the company’s stock, valued at approximately $492,954. The disclosure for this sale can be found here.
Spectrum Brands Holdings, Inc (SBH) is a diversified consumer products company. The Company operates through five segments: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.

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