Spectrum Brands (NYSE:SPB) Sets New 1-Year Low - Here's Why

Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $51.12 and last traded at $51.83, with a volume of 29006 shares trading hands. The stock had previously closed at $52.05.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SPB. UBS Group lifted their target price on Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company decreased 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, Monness Crespi & Hardt reduced their price target on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Spectrum Brands has an average rating of "Moderate Buy" and an average price target of $89.17.

Spectrum Brands Price Performance

The stock has a market cap of $1.30 billion, a P/E ratio of 24.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.40 and a current ratio of 2.34. The business has a 50 day simple moving average of $59.45 and a 200-day simple moving average of $72.15.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.67). Spectrum Brands had a return on equity of 5.20% and a net margin of 2.02%. The firm had revenue of $675.70 million for the quarter, compared to the consensus estimate of $701.00 million. During the same quarter in the previous year, the company posted $1.62 EPS. The firm's revenue was down 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.88 annualized dividend and a yield of 3.61%. Spectrum Brands's dividend payout ratio is currently 89.95%.

Insiders Place Their Bets

In other Spectrum Brands news, CEO David M. Maura sold 5,180 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $63.77, for a total value of $330,328.60. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Spectrum Brands

Several institutional investors and hedge funds have recently modified their holdings of SPB. Steward Partners Investment Advisory LLC purchased a new stake in shares of Spectrum Brands in the 4th quarter valued at about $50,000. Versant Capital Management Inc raised its holdings in shares of Spectrum Brands by 101.7% in the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company's stock valued at $69,000 after acquiring an additional 489 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Spectrum Brands in the 1st quarter valued at about $118,000. Lazard Asset Management LLC raised its holdings in shares of Spectrum Brands by 89.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock valued at $123,000 after acquiring an additional 692 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Spectrum Brands in the 1st quarter valued at about $157,000.

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.