Insider Selling: Spectrum Brands Holdings CEO Sells 50,000 Shares of Stock (SPB)
Spectrum Brands Holdings (NYSE:SPB) CEO David R. Lumley sold 50,000 shares of the company’s stock on the open market in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $75.90, for a total value of $3,795,000.00. Following the transaction, the chief executive officer now directly owns 48,832 shares of the company’s stock, valued at approximately $3,706,349. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
SPB has been the subject of a number of recent research reports. Analysts at CRT Capital initiated coverage on shares of Spectrum Brands Holdings in a research note on Wednesday, May 14th. They set a “buy” rating and a $90.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Spectrum Brands Holdings from $76.00 to $83.00 in a research note on Monday, April 14th. They now have a “hold” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Spectrum Brands Holdings from $78.00 to $89.00 in a research note on Friday, April 11th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $83.72.
Shares of Spectrum Brands Holdings (NYSE:SPB) traded down 1.44% on Friday, hitting $78.25. 201,908 shares of the company’s stock traded hands. Spectrum Brands Holdings has a 52 week low of $55.71 and a 52 week high of $81.49. The stock’s 50-day moving average is $76.5 and its 200-day moving average is $74.63. The company has a market cap of $4.126 billion and a P/E ratio of 47.57.
Spectrum Brands Holdings (NYSE:SPB) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.72 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.75 by $0.03. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company posted $0.44 earnings per share. Spectrum Brands Holdings’s revenue was up 3.4% compared to the same quarter last year. Analysts expect that Spectrum Brands Holdings will post $4.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 17th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, May 16th.
Spectrum Brands Holdings, Inc (NYSE:SPB) is a consumer products company.
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