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 on Monday . The company traded as low as $57.66 and last traded at $58.89, with a volume of 589077 shares trading hands. The stock had previously closed at $59.81.

Analyst Ratings Changes

A number of equities analysts have commented on SPB shares. Royal Bank of Canada cut their price objective 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. Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and increased their price target for the company from $94.00 to $102.00 in a report on Friday, February 7th. Wells Fargo & Company cut their target price on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, UBS Group dropped their price target on shares of Spectrum Brands from $106.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.43.

Spectrum Brands Stock Performance

The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. The company has a 50-day moving average of $68.97 and a 200-day moving average of $81.13. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly 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 period in the prior year, the company posted $0.78 EPS. On average, equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.00%. Spectrum Brands's dividend payout ratio is currently 46.19%.

Institutional Investors Weigh In On Spectrum Brands

Several large investors have recently added to or reduced their stakes in the stock. Man Group plc lifted its position in Spectrum Brands by 160.5% in the 4th quarter. Man Group plc now owns 320,178 shares of the company's stock valued at $27,052,000 after purchasing an additional 197,263 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in Spectrum Brands during the 4th quarter valued at $16,606,000. Two Sigma Advisers LP boosted its position in Spectrum Brands by 403.9% during the 4th quarter. Two Sigma Advisers LP now owns 233,800 shares of the company's stock worth $19,754,000 after acquiring an additional 187,400 shares during the period. Trexquant Investment LP grew its stake in shares of Spectrum Brands by 2,541.2% in the fourth quarter. Trexquant Investment LP now owns 148,698 shares of the company's stock worth $12,563,000 after purchasing an additional 143,068 shares in the last quarter. Finally, Callodine Capital Management LP increased its holdings 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 purchasing an additional 121,000 shares during the period.

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.