Investors Purchase High Volume of Call Options on Spectrum Brands Holdings (NYSE:SPB)
Spectrum Brands Holdings, Inc. (NYSE:SPB) was the target of some unusual options trading activity on Friday. Stock investors bought 13,921 call options on the company. This represents an increase of 912% compared to the average volume of 1,376 call options.
Several institutional investors have recently added to or reduced their stakes in SPB. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Spectrum Brands Holdings during the second quarter valued at $100,000. Daiwa Securities Group Inc. increased its position 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. Invictus RG bought a new position in Spectrum Brands Holdings during the first quarter valued at $156,000. SG Americas Securities LLC increased its position in Spectrum Brands Holdings by 50.6% in the second quarter. SG Americas Securities LLC now owns 1,586 shares of the company’s stock valued at $198,000 after buying an additional 533 shares in the last quarter. Finally, TD Asset Management Inc. bought a new position in Spectrum Brands Holdings during the first quarter valued at $211,000. 48.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Spectrum Brands Holdings (NYSE SPB) opened at 111.99 on Monday. The stock’s 50 day moving average price is $124.71 and its 200-day moving average price is $132.49. Spectrum Brands Holdings has a 1-year low of $108.30 and a 1-year high of $146.09. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 22.93 and a beta of 0.66.
Spectrum Brands Holdings (NYSE:SPB) last released its quarterly earnings data on Thursday, July 27th. The company reported $1.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm earned $1.73 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Spectrum Brands Holdings will post $5.61 earnings per share for the current year.
The business 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. This represents a $1.68 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, August 11th. Spectrum Brands Holdings’s dividend payout ratio is currently 34.29%.
SPB has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a research report on Saturday, July 29th. Royal Bank Of Canada set a $155.00 price target on shares of Spectrum Brands Holdings and gave the company a “buy” rating in a research report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and set a $167.00 price target (up from $160.00) on shares of Spectrum Brands Holdings in a research report on Tuesday, April 18th. BMO Capital Markets set a $155.00 price target on shares of Spectrum Brands Holdings and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Finally, BidaskClub cut shares of Spectrum Brands Holdings from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Spectrum Brands Holdings presently has an average rating of “Buy” and an average target price of $143.88.
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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