Spectrum Brands (NYSE:SPB) Hits New 1-Year Low - Here's What Happened

Spectrum Brands Holdings, Inc. (NYSE:SPB - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $55.53 and last traded at $55.78, with a volume of 61465 shares trading hands. The stock had previously closed at $57.77.

Wall Street Analysts Forecast Growth

SPB has been the subject of several recent research reports. Monness Crespi & Hardt decreased their target price on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a "hold" rating to a "buy" rating and increased their target price for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. UBS Group increased their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Wells Fargo & Company decreased their target price on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada decreased their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $89.17.

Spectrum Brands Stock 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 stock has a market cap of $1.41 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 1.70 and a beta of 1.00. The stock's 50-day moving average is $62.26 and its 200 day moving average is $75.55.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.67). The firm had revenue of $675.70 million during the quarter, compared to analyst estimates of $701.00 million. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. Spectrum Brands's revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.62 EPS. As a group, 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 will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be given a $0.47 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.34%. Spectrum Brands's payout ratio is currently 89.95%.

Insider Activity at Spectrum Brands

In related news, CEO David M. Maura sold 5,180 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $63.77, for a total value of $330,328.60. Following the completion of the sale, the chief executive officer now owns 718,427 shares in the company, valued at $45,814,089.79. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Spectrum Brands

A number of hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new position in Spectrum Brands in the fourth quarter valued at about $50,000. Versant Capital Management Inc increased its holdings in Spectrum Brands by 101.7% in the first quarter. Versant Capital Management Inc now owns 970 shares of the company's stock valued at $69,000 after buying an additional 489 shares in the last quarter. Blue Trust Inc. increased its holdings in Spectrum Brands by 46.5% in the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock valued at $100,000 after buying an additional 375 shares in the last quarter. KBC Group NV increased its holdings in Spectrum Brands by 46.3% in the fourth quarter. KBC Group NV now owns 1,233 shares of the company's stock valued at $104,000 after buying an additional 390 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new position in Spectrum Brands in the first quarter valued at about $118,000.

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.