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

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Get Free Report) hit 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.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SPB. 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 report on Friday, February 7th. Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and upped their target price for the company from $94.00 to $102.00 in a research report 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 report on Thursday, January 16th. Finally, Wells Fargo & Company cut their target price on Spectrum Brands from $92.00 to $88.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $103.43.

Spectrum Brands Stock Down 2.5 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53. The stock has a fifty day moving average price of $79.93 and a two-hundred day moving average price of $86.89. The company has a market cap of $1.86 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20.

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Spectrum Brands (NYSE:SPB - Get Free Report) last posted 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 period last year, the firm earned $0.78 EPS. On average, research 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 issued a $0.47 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.66%. Spectrum Brands's dividend payout ratio is presently 46.19%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Pzena Investment Management LLC increased its position in shares of Spectrum Brands by 1.7% during the fourth quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company's stock valued at $112,654,000 after acquiring an additional 22,484 shares during the last quarter. State Street Corp increased its position in shares of Spectrum Brands by 1.3% during the third quarter. State Street Corp now owns 590,222 shares of the company's stock valued at $56,154,000 after acquiring an additional 7,783 shares during the last quarter. Callodine Capital Management LP increased its position in shares of Spectrum Brands by 29.8% during the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company's stock valued at $44,568,000 after acquiring an additional 121,000 shares during the last quarter. Wellington Management Group LLP increased its position in Spectrum Brands by 7.6% in the third quarter. Wellington Management Group LLP now owns 513,025 shares of the company's stock worth $48,809,000 after buying an additional 36,063 shares during the last quarter. Finally, FIL Ltd increased its position in Spectrum Brands by 8.7% in the fourth quarter. FIL Ltd now owns 461,568 shares of the company's stock worth $38,998,000 after buying an additional 36,798 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.