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

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

Wall Street Analyst Weigh In

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

Spectrum Brands Price Performance

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 firm has a market cap of $1.86 billion, a PE ratio of 17.45, a P/E/G ratio of 1.70 and a beta of 1.20. The business's fifty day moving average is $79.66 and its 200-day moving average is $86.72.

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Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.02 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 period in the previous year, the firm posted $0.78 EPS. On average, research analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Tuesday, February 18th. Spectrum Brands's dividend payout ratio (DPR) is currently 46.19%.

Hedge Funds Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. grew its stake in Spectrum Brands by 15.9% in 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 in the last quarter. Empowered Funds LLC purchased a new position in shares of Spectrum Brands in the fourth quarter valued at $387,000. Everence Capital Management Inc. bought a new stake in shares of Spectrum Brands during the 4th quarter valued at $553,000. SG Americas Securities LLC lifted its holdings in 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 purchasing an additional 11,166 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Spectrum Brands by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock worth $38,089,000 after purchasing an additional 7,198 shares during the period.

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.