Spectrum Brands (NYSE:SPB) Sets New 52-Week Low - Here's What Happened

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SPB. Wells Fargo & Company lowered their target price 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. Canaccord Genuity Group raised shares of Spectrum Brands from a "hold" rating to a "buy" rating and increased their price objective for the company from $94.00 to $102.00 in a research note on Friday, February 7th. UBS Group dropped their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Finally, Royal Bank of Canada reduced their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $103.43.

Spectrum Brands Price Performance

The company's 50 day simple moving average is $77.70 and its 200-day simple moving average is $85.70. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.70 and a beta of 1.20.

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Spectrum Brands (NYSE:SPB - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same quarter last year, the company earned $0.78 EPS. On average, 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 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 of this dividend was Tuesday, February 18th. This represents a $1.88 annualized dividend and a yield of 2.66%. Spectrum Brands's dividend payout ratio (DPR) is presently 46.19%.

Institutional Trading of Spectrum Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its position in shares of Spectrum Brands by 13.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,259 shares of the company's stock worth $275,000 after acquiring an additional 396 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Spectrum Brands in the 4th quarter valued at $2,758,000. Pullen Investment Management LLC grew its stake in shares of Spectrum Brands by 47.1% during the 4th quarter. Pullen Investment Management LLC now owns 12,028 shares of the company's stock valued at $1,016,000 after buying an additional 3,849 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Spectrum Brands by 10.4% during the 4th 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 buying an additional 9,911 shares during the period. Finally, Voloridge Investment Management LLC increased its holdings in shares of Spectrum Brands by 142.8% during the 4th quarter. Voloridge Investment Management LLC now owns 24,926 shares of the company's stock worth $2,106,000 after buying an additional 14,662 shares during the last quarter.

Spectrum Brands Company Profile

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.