Spectrum Brands Holdings Sees Unusually High Options Volume (SPB)
Spectrum Brands Holdings, Inc. (NYSE:SPB) was the target of unusually large options trading activity on Monday. Stock investors bought 13,644 call options on the company. This is an increase of 720% compared to the typical daily volume of 1,663 call options.
Hedge funds have recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Spectrum Brands Holdings during the second quarter valued at about $100,000. Daiwa Securities Group Inc. boosted its stake in Spectrum Brands Holdings by 33.3% in the second quarter. Daiwa Securities Group Inc. now owns 800 shares of the company’s stock valued at $100,000 after buying an additional 200 shares in the last quarter. Pacad Investment Ltd. bought a new stake in Spectrum Brands Holdings during the second quarter valued at about $113,000. Invictus RG bought a new stake in Spectrum Brands Holdings during the first quarter valued at about $156,000. Finally, FNY Partners Fund LP bought a new stake in Spectrum Brands Holdings during the second quarter valued at about $187,000. 47.00% of the stock is currently owned by hedge funds and other institutional investors.
Spectrum Brands Holdings (SPB) opened at 107.47 on Thursday. The company’s 50-day moving average is $115.77 and its 200 day moving average is $130.06. Spectrum Brands Holdings has a one year low of $105.30 and a one year high of $146.09. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 22.00 and a beta of 0.66.
Spectrum Brands Holdings (NYSE:SPB) last posted its earnings results on Thursday, July 27th. The company reported $1.71 EPS for the quarter, missing analysts’ consensus estimates of $1.92 by $0.21. Spectrum Brands Holdings had a return on equity of 17.46% and a net margin of 5.87%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities analysts expect that Spectrum Brands Holdings will post $5.61 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, August 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.56%. Spectrum Brands Holdings’s payout ratio is currently 34.29%.
A number of equities analysts have recently commented on the stock. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $167.00 target price on shares of Spectrum Brands Holdings in a research report on Wednesday. BidaskClub raised shares of Spectrum Brands Holdings from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Deutsche Bank AG reaffirmed a “buy” rating and set a $131.00 target price (down from $149.00) on shares of Spectrum Brands Holdings in a research report on Monday, July 31st. Jefferies Group LLC set a $143.00 target price on shares of Spectrum Brands Holdings and gave the stock a “buy” rating in a research report on Saturday, July 29th. Finally, Royal Bank Of Canada set a $155.00 target price on shares of Spectrum Brands Holdings and gave the stock a “buy” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $146.44.
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About Spectrum Brands Holdings
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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