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 Video: What is a Stock Split?
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| Sparton is a provider of design, development and manufacturing services for electromechanical devices, as well as engineered products complementary to the same electromechanical value stream. Co. has two segments: manufacturing and design services, which is comprised of contract design, manufacturing, and aftermarket repair and refurbishment of printed circuit card assemblies, sub-assemblies, full product assemblies, and cable/wire harnesses for customers to bring their intellectual property to market; and engineered components and products, which is comprised of design, development and production of proprietary products for both domestic and foreign defense as well as commercial needs. According to our SPA split history records, SPA has had 5 splits. | |
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SPA (SPA) has 5 splits in our SPA split history database. The first split for SPA took place on January 16, 2003. This was a 105 for 100 split, meaning for each 100 shares of SPA owned pre-split, the shareholder now owned 105 shares. For example, a 1000 share position pre-split, became a 1050 share position following the split. SPA's second split took place on November 19, 2003. This was a 105 for 100 split, meaning for each 100 shares of SPA owned pre-split, the shareholder now owned 105 shares. For example, a 1050 share position pre-split, became a 1102.5 share position following the split. SPA's third split took place on November 19, 2004. This was a 105 for 100 split, meaning for each 100 shares of SPA owned pre-split, the shareholder now owned 105 shares. For example, a 1102.5 share position pre-split, became a 1157.625 share position following the split. SPA's 4th split took place on December 19, 2005. This was a 105 for 100 split, meaning for each 100 shares of SPA owned pre-split, the shareholder now owned 105 shares. For example, a 1157.625 share position pre-split, became a 1215.50625 share position following the split. SPA's 5th split took place on December 22, 2006. This was a 105 for 100 split, meaning for each 100 shares of SPA owned pre-split, the shareholder now owned 105 shares. For example, a 1215.50625 share position pre-split, became a 1276.2815625 share position following the split.
When a company such as SPA splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business.
Looking at the SPA split history from start to finish, an original position size of 1000 shares would have turned into 1276.2815625 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into SPA shares, starting with a $10,000 purchase of SPA, presented on a split-history-adjusted basis factoring in the complete SPA split history.
Growth of $10,000.00
Without Dividends Reinvested
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| Start date: |
01/22/2015 |
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| End date: |
03/04/2019 |
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| Start price/share: |
$26.26 |
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| End price/share: |
$18.51 |
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| Dividends collected/share: |
$0.00 |
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| Total return: |
-29.51% |
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| Average Annual Total Return: |
-8.15% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$7,048.04 |
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| Years: |
4.12 |
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| Date |
Ratio |
| 01/16/2003 | 105 for 100 | | 11/19/2003 | 105 for 100 | | 11/19/2004 | 105 for 100 | | 12/19/2005 | 105 for 100 | | 12/22/2006 | 105 for 100 |
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