Stock Traders Buy High Volume of Spectrum Brands Holdings Call Options (SPB)

Spectrum Brands Holdings, Inc. (NYSE:SPB) saw some unusual options trading activity on Friday. Investors bought 13,921 call options on the company. This represents an increase of 912% compared to the typical daily volume of 1,376 call options.

Spectrum Brands Holdings (NYSE:SPB) traded down 0.50% during mid-day trading on Friday, reaching $107.42. 288,878 shares of the company were exchanged. The stock has a 50 day moving average of $117.96 and a 200-day moving average of $130.96. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 21.99 and a beta of 0.66. Spectrum Brands Holdings has a one year low of $106.79 and a one year high of $146.09.

Spectrum Brands Holdings (NYSE:SPB) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.71 earnings per share for the quarter, missing the consensus estimate of $1.92 by $0.21. Spectrum Brands Holdings had a net margin of 5.87% and a return on equity of 17.46%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the firm earned $1.73 EPS. Spectrum Brands Holdings’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts expect that Spectrum Brands Holdings will post $5.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, August 11th. Spectrum Brands Holdings’s dividend payout ratio is currently 34.29%.

A number of analysts recently commented on SPB shares. Royal Bank Of Canada restated a “buy” rating and set a $160.00 price target on shares of Spectrum Brands Holdings in a research note on Friday, April 21st. Jefferies Group LLC restated a “buy” rating and set a $167.00 price target on shares of Spectrum Brands Holdings in a research note on Tuesday, May 2nd. 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 note on Tuesday, May 2nd. Deutsche Bank AG dropped their price target on shares of Spectrum Brands Holdings from $152.00 to $149.00 and set a “buy” rating on the stock in a research note on Wednesday, May 3rd. Finally, BidaskClub cut shares of Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $143.88.

A number of institutional investors have recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Spectrum Brands Holdings during the second quarter valued at $100,000. Daiwa Securities Group Inc. increased its position in shares of 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. purchased a new position in shares of Spectrum Brands Holdings during the second quarter valued at $113,000. Invictus RG purchased a new position in shares of Spectrum Brands Holdings during the first quarter valued at $156,000. Finally, FNY Partners Fund LP purchased a new position in shares of Spectrum Brands Holdings during the second quarter valued at $187,000. 48.37% of the stock is currently owned by institutional investors and hedge funds.

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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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