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

Spectrum Brands Holdings, Inc. (NYSE:SPB) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $76.35 and last traded at $80.61, with a volume of 50822 shares. The stock had previously closed at $82.86.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SPB. UBS Group decreased their price target on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Canaccord Genuity Group boosted their target price on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company cut 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. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.75.

Spectrum Brands Stock Down 7.7 %

The firm has a market capitalization of $2.09 billion, a PE ratio of 18.85, a PEG ratio of 1.51 and a beta of 1.20. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $87.05 and a 200 day simple moving average of $89.17.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. During the same period in the previous year, the business earned $0.78 EPS. As a group, sell-side analysts forecast that Spectrum Brands Holdings, Inc. will post 5.17 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders 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 dividend yield of 2.46%. The ex-dividend date is Tuesday, February 18th. Spectrum Brands’s payout ratio is presently 46.08%.

Hedge Funds Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the business. 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 buying an additional 5,641 shares during the period. Everence Capital Management Inc. bought a new position in Spectrum Brands in the fourth quarter worth approximately $553,000. SG Americas Securities LLC boosted its stake in shares of Spectrum Brands by 478.4% during the 4th quarter. SG Americas Securities LLC now owns 13,500 shares of the company’s stock worth $1,141,000 after acquiring an additional 11,166 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Spectrum Brands by 9,420.0% in the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after purchasing an additional 471 shares in the last quarter. Finally, Manning & Napier Advisors LLC lifted its position in Spectrum Brands by 30.4% during the fourth quarter. Manning & Napier Advisors LLC now owns 150,000 shares of the company’s stock valued at $12,674,000 after purchasing an additional 35,000 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.