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

Spectrum Brands Holdings, Inc. (NYSE:SPB) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $69.85 and last traded at $71.82, with a volume of 455390 shares changing hands. The stock had previously closed at $70.55.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPB. UBS Group cut their price objective on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Royal Bank of Canada lowered their target price 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 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. Finally, Wells Fargo & Company lowered their price objective on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.43.

Spectrum Brands Stock Performance

The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20. The stock has a 50-day moving average of $79.66 and a 200 day moving average of $86.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) 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 quarter last year, the company posted $0.78 earnings per share. On average, analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.66%. Spectrum Brands’s payout ratio is currently 46.19%.

Hedge Funds Weigh In On Spectrum Brands

Several institutional investors have recently modified their holdings of SPB. Victory Capital Management Inc. grew its position in shares of Spectrum Brands by 6.4% during the 3rd quarter. Victory Capital Management Inc. now owns 21,055 shares of the company’s stock worth $2,003,000 after buying an additional 1,273 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Spectrum Brands by 10.4% during the 3rd quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock valued at $124,715,000 after purchasing an additional 123,733 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Spectrum Brands during the 3rd quarter valued at about $1,001,000. Citigroup Inc. lifted its holdings in shares of Spectrum Brands by 15.9% during the 3rd quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock valued at $3,905,000 after purchasing an additional 5,641 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Spectrum Brands by 34.2% during the 3rd quarter. Algert Global LLC now owns 151,050 shares of the company’s stock valued at $14,371,000 after purchasing an additional 38,514 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.