Spectrum Brands (NYSE:SPB) Hits New 12-Month Low – Here’s What Happened

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) reached a new 52-week low on Monday . The company traded as low as $68.74 and last traded at $70.05, with a volume of 986162 shares trading hands. The stock had previously closed at $70.07.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPB. UBS Group dropped their price objective 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 shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Wells Fargo & Company lowered 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 research note on Tuesday, January 7th. Finally, Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and raised their target price for the company from $94.00 to $102.00 in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.43.

Spectrum Brands Stock Down 2.0 %

The firm has a market cap of $1.84 billion, a P/E ratio of 17.16, 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. The firm’s fifty day moving average is $78.28 and its 200 day moving average is $85.91.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, February 6th. The company reported $1.02 EPS for the quarter, beating 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 earned $0.78 EPS. As a group, equities research analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Tuesday, February 18th. Spectrum Brands’s dividend payout ratio is currently 46.19%.

Hedge Funds Weigh In On Spectrum Brands

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

About Spectrum Brands

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.