Spectrum Brands (NYSE:SPB) Sets New 1-Year High at $93.18

Spectrum Brands Holdings, Inc. (NYSE:SPB - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $93.18 and last traded at $92.00, with a volume of 111013 shares trading hands. The stock had previously closed at $84.52.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Monness Crespi & Hardt increased their price target on Spectrum Brands from $87.00 to $98.00 and gave the stock a "buy" rating in a report on Friday, February 9th. Wells Fargo & Company lifted their target price on Spectrum Brands from $75.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Friday, February 9th. Canaccord Genuity Group cut shares of Spectrum Brands from a "buy" rating to a "hold" rating and upped their price target for the stock from $83.00 to $86.00 in a report on Friday, February 9th. Canaccord Genuity Group reiterated a "hold" rating and set a $86.00 price objective (up previously from $83.00) on shares of Spectrum Brands in a report on Friday, February 9th. Finally, Royal Bank of Canada upped their target price on shares of Spectrum Brands from $89.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, February 9th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $91.00.

Spectrum Brands Trading Up 11.9 %

The stock's 50 day moving average price is $83.58 and its 200-day moving average price is $79.58. The company has a quick ratio of 2.75, a current ratio of 3.36 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $2.86 billion, a P/E ratio of 2.05, a P/E/G ratio of 0.59 and a beta of 1.20.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.31 by $0.47. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The business had revenue of $692.20 million during the quarter, compared to analyst estimates of $674.20 million. During the same period in the prior year, the firm posted ($0.32) earnings per share. The company's quarterly revenue was down 3.0% on a year-over-year basis. As a group, equities research analysts expect that Spectrum Brands Holdings, Inc. will post 3.79 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, May 24th. Spectrum Brands's dividend payout ratio is presently 3.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SPB. Fidelis Capital Partners LLC acquired a new position in Spectrum Brands in the 1st quarter worth approximately $27,000. Central Pacific Bank Trust Division purchased a new position in Spectrum Brands during the first quarter worth approximately $30,000. Larson Financial Group LLC grew its holdings in Spectrum Brands by 72.6% in the fourth quarter. Larson Financial Group LLC now owns 359 shares of the company's stock valued at $29,000 after purchasing an additional 151 shares during the period. International Assets Investment Management LLC increased its holdings in Spectrum Brands by 1,713.6% in the 4th quarter. International Assets Investment Management LLC now owns 399 shares of the company's stock worth $32,000 after acquiring an additional 377 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Spectrum Brands by 53.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company's stock valued at $36,000 after purchasing an additional 160 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.