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

Spectrum Brands Holdings, Inc. (NYSE:SPB)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $73.05 and last traded at $73.38, with a volume of 59843 shares. The stock had previously closed at $74.22.

Analyst Upgrades and Downgrades

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

Spectrum Brands Stock Performance

The company has a fifty day moving average of $81.15 and a two-hundred day moving average of $87.61. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 18.00, a PEG 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 earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company earned $0.78 earnings per share. As a group, equities research analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.57%. Spectrum Brands’s payout ratio is presently 46.19%.

Institutional Investors Weigh In On Spectrum Brands

Several institutional investors have recently made changes to their positions in SPB. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Spectrum Brands in the 4th quarter valued at $2,758,000. Pullen Investment Management LLC raised its stake in Spectrum Brands by 47.1% in the fourth quarter. Pullen Investment Management LLC now owns 12,028 shares of the company’s stock valued at $1,016,000 after purchasing an additional 3,849 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Spectrum Brands by 10.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,250 shares of the company’s stock worth $8,893,000 after purchasing an additional 9,911 shares during the period. Voloridge Investment Management LLC lifted its position in Spectrum Brands by 142.8% during the fourth quarter. Voloridge Investment Management LLC now owns 24,926 shares of the company’s stock worth $2,106,000 after purchasing an additional 14,662 shares during the period. Finally, Two Sigma Advisers LP grew its stake in Spectrum Brands by 403.9% during the fourth quarter. Two Sigma Advisers LP now owns 233,800 shares of the company’s stock worth $19,754,000 after buying an additional 187,400 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.