Short Interest in Spectrum Brands Holdings, Inc. (NYSE:SPB) Decreases By 13.3%

Spectrum Brands Holdings, Inc. (NYSE:SPB) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 1,240,000 shares, a decline of 13.3% from the August 31st total of 1,430,000 shares. Approximately 4.6% of the company’s stock are short sold. Based on an average daily trading volume, of 392,500 shares, the short-interest ratio is presently 3.2 days.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC acquired a new position in Spectrum Brands in the 1st quarter valued at $27,000. Central Pacific Bank Trust Division purchased a new position in shares of Spectrum Brands in the first quarter worth about $30,000. Versant Capital Management Inc boosted its position in Spectrum Brands by 1,923.8% during the second quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock worth $37,000 after acquiring an additional 404 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Spectrum Brands during the 1st quarter valued at about $42,000. Finally, Quarry LP grew its stake in Spectrum Brands by 375.0% during the 2nd quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after acquiring an additional 450 shares in the last quarter.

Spectrum Brands Stock Up 0.9 %

SPB stock opened at $93.79 on Friday. The company has a market capitalization of $2.63 billion, a P/E ratio of 1.90, a price-to-earnings-growth ratio of 0.33 and a beta of 1.22. Spectrum Brands has a 12 month low of $65.27 and a 12 month high of $96.74. The firm’s fifty day simple moving average is $89.64 and its 200-day simple moving average is $87.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.61.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.25). The company had revenue of $779.40 million for the quarter, compared to analyst estimates of $750.97 million. Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. Spectrum Brands’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, equities research analysts forecast that Spectrum Brands will post 4.78 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th were given a $0.42 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.79%. Spectrum Brands’s dividend payout ratio (DPR) is currently 3.40%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SPB. Deutsche Bank Aktiengesellschaft upped their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. UBS Group increased their price target on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company boosted their price target on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $114.00 price objective on shares of Spectrum Brands in a research report on Friday, June 7th. Finally, Canaccord Genuity Group cut their price target on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a research note on Monday, July 1st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $101.88.

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.