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

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

Wall Street Analyst Weigh In

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

Spectrum Brands Trading Down 2.5 %

The business has a 50-day moving average price of $79.66 and a two-hundred day moving average price of $86.72. The stock has a market capitalization of $1.86 billion, a P/E ratio of 17.37, a P/E/G ratio of 1.70 and a beta of 1.20. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

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

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors 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 dividend payout ratio is currently 46.19%.

Institutional Trading of Spectrum Brands

Several institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Spectrum Brands by 13.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,259 shares of the company’s stock worth $275,000 after buying an additional 396 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Spectrum Brands in the fourth quarter valued at about $2,758,000. Pullen Investment Management LLC raised its position 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Spectrum Brands by 10.4% in 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 valued at $8,893,000 after purchasing an additional 9,911 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its position in Spectrum Brands by 142.8% in the fourth quarter. Voloridge Investment Management LLC now owns 24,926 shares of the company’s stock valued at $2,106,000 after purchasing an additional 14,662 shares during 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.