Spectrum Brands (NYSE:SPB) Sets New 1-Year Low – Here’s What Happened

Spectrum Brands Holdings, Inc. (NYSE:SPB) shares hit a new 52-week low on Tuesday . The company traded as low as $73.12 and last traded at $73.71, with a volume of 43252 shares trading hands. The stock had previously closed at $74.99.

Analyst Upgrades and Downgrades

SPB has been the topic of a number of research reports. UBS Group dropped their price target on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Royal Bank of Canada cut their price target on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and increased their price objective for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.43.

Spectrum Brands Price Performance

The firm’s fifty day moving average is $82.17 and its two-hundred day moving average is $88.19. The company has a market cap of $1.95 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Tuesday, February 18th. Spectrum Brands’s payout ratio is 46.19%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Pzena Investment Management LLC increased its position in Spectrum Brands by 1.7% in the fourth quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company’s stock worth $112,654,000 after purchasing an additional 22,484 shares during the last quarter. State Street Corp grew its stake in shares of Spectrum Brands by 1.3% in the 3rd quarter. State Street Corp now owns 590,222 shares of the company’s stock worth $56,154,000 after buying an additional 7,783 shares in the last quarter. Callodine Capital Management LP increased its holdings in shares of Spectrum Brands by 29.8% in the 4th quarter. Callodine Capital Management LP now owns 527,500 shares of the company’s stock worth $44,568,000 after buying an additional 121,000 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Spectrum Brands by 7.6% during the 3rd quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock valued at $48,809,000 after buying an additional 36,063 shares in the last quarter. Finally, FIL Ltd lifted its holdings in shares of Spectrum Brands by 8.7% in the 4th quarter. FIL Ltd now owns 461,568 shares of the company’s stock valued at $38,998,000 after acquiring an additional 36,798 shares during the last quarter.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.