|Bid||80.00 x 900|
|Ask||93.16 x 800|
|Day's Range||91.82 - 93.28|
|52 Week Range||55.98 - 97.83|
|Beta (5Y Monthly)||1.88|
|PE Ratio (TTM)||13.39|
|Earnings Date||Nov 11, 2021 - Nov 15, 2021|
|Forward Dividend & Yield||1.68 (1.79%)|
|Ex-Dividend Date||Aug 30, 2021|
|1y Target Est||111.14|
Spectrum Brands (SPB) agrees to sell off its HHI segment to effectively focus on its three core profitable units and strengthen its balance sheet.
Shares of Spectrum Brands Holdings (NYSE: SPB) traded up 17.8% on Wednesday after the company announced plans to sell its hardware and home improvement assets in a deal worth $4.3 billion. On Wednesday morning, Spectrum announced an agreement to sell brands including Kwikset locks to Assa Abloy (OTC: ASAZY) of Sweden. Spectrum said it expects net proceeds of $3.5 billion from the deal, after taxes, which will be used to pay down its debt.
Spectrum Brands Holdings Inc (NYSE: SPB) has agreed to sell its Hardware & Home Improvement (HHI) segment to ASSA ABLOY (OTC: ASAZY), a Swedish conglomerate, for $4.3 billion in cash. HHI division provides security, plumbing, and builders' hardware products to the North American residential segment. Lake Forest, California-based HHI has about 7,500 employees worldwide. HHI clocked .3 billion in net sales for the fiscal year ending September 2020 with an adjusted EBITDA margin of around 19%. Spec