M&T Bank Corp Raises Holdings in Energizer Holdings, Inc. (NYSE:ENR)

M&T Bank Corp increased its holdings in Energizer Holdings, Inc. (NYSE:ENR) by 7.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 18,862 shares of the company’s stock after acquiring an additional 1,344 shares during the period. M&T Bank Corp’s holdings in Energizer were worth $564,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. CX Institutional purchased a new position in shares of Energizer during the first quarter worth $33,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Energizer in the fourth quarter valued at $43,000. Curat Global LLC acquired a new stake in shares of Energizer in the first quarter valued at $53,000. Russell Investments Group Ltd. raised its stake in shares of Energizer by 21.6% in the fourth quarter. Russell Investments Group Ltd. now owns 2,023 shares of the company’s stock valued at $71,000 after acquiring an additional 360 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in shares of Energizer by 29.4% in the first quarter. Central Pacific Bank Trust Division now owns 2,200 shares of the company’s stock valued at $66,000 after acquiring an additional 500 shares in the last quarter. 93.74% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Energizer news, Director Donal L. Mulligan purchased 10,000 shares of Energizer stock in a transaction on Monday, May 19th. The shares were bought at an average price of $23.66 per share, with a total value of $236,600.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at $236,600. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Stephen Lavigne purchased 4,000 shares of Energizer stock in a transaction on Friday, May 9th. The shares were acquired at an average cost of $21.67 per share, for a total transaction of $86,680.00. Following the purchase, the chief executive officer owned 277,645 shares in the company, valued at approximately $6,016,567.15. This trade represents a 1.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 25,000 shares of company stock valued at $578,140 in the last quarter. 0.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. UBS Group reduced their price objective on Energizer from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Barclays cut their target price on Energizer from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Canaccord Genuity Group cut their target price on Energizer from $31.00 to $27.00 and set a “hold” rating on the stock in a research report on Wednesday, May 7th. Truist Financial cut their target price on Energizer from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. cut their target price on Energizer from $36.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.38.

Energizer Price Performance

ENR stock opened at $21.60 on Wednesday. Energizer Holdings, Inc. has a 1 year low of $19.70 and a 1 year high of $39.52. The company has a debt-to-equity ratio of 23.56, a quick ratio of 0.86 and a current ratio of 1.86. The stock’s 50 day moving average price is $21.92 and its 200 day moving average price is $27.64. The firm has a market cap of $1.56 billion, a P/E ratio of 29.58 and a beta of 0.63.

Energizer (NYSE:ENR) last posted its earnings results on Tuesday, May 6th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Energizer had a net margin of 1.87% and a return on equity of 184.22%. The company had revenue of $662.90 million during the quarter, compared to analysts’ expectations of $670.85 million. During the same period in the previous year, the company posted $0.72 EPS. Energizer’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts expect that Energizer Holdings, Inc. will post 3.58 earnings per share for the current fiscal year.

Energizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 21st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date was Wednesday, May 21st. Energizer’s dividend payout ratio is presently 164.38%.

Energizer Profile

Energizer Holdings, Inc, together with its subsidiaries, manufactures, markets, and distributes household batteries, specialty batteries, and lighting products worldwide. It offers lithium, alkaline, carbon zinc, nickel metal hydride, zinc air, and silver oxide batteries under the Energizer, Eveready, and Rayovac brands; primary, rechargeable, specialty, and hearing aid batteries; and handheld, headlights, lanterns, and area lights, as well as flashlights under the Hard Case, Dolphin, and WeatherReady brands.