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

Spectrum Brands Holdings, Inc. (NYSE:SPB - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $54.52 and last traded at $54.57, with a volume of 202208 shares traded. The stock had previously closed at $55.04.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SPB. Monness Crespi & Hardt reduced their target price on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. UBS Group increased their price target on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company lowered their price target on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $89.17.

Spectrum Brands Price Performance

The stock has a market cap of $1.38 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.70 and a beta of 0.94. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. The firm has a 50-day moving average price of $60.81 and a 200-day moving average price of $74.36.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its 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 6.44% and a net margin of 4.01%. The business had revenue of $675.70 million for the quarter, compared to the consensus estimate of $701.00 million. During the same quarter last year, the business posted $1.62 earnings per share. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. On average, 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 will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Tuesday, May 27th. Spectrum Brands's payout ratio is currently 89.95%.

Insider Transactions at Spectrum Brands

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 sale, the chief executive officer now directly owns 718,427 shares of the company's stock, valued at approximately $45,814,089.79. This trade represents a 0.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.60% of the company's stock.

Institutional Trading of Spectrum Brands

A number of hedge funds have recently made changes to their positions in SPB. Strs Ohio acquired a new position in Spectrum Brands during the 1st quarter worth $1,716,000. Acadian Asset Management LLC raised its holdings in shares of Spectrum Brands by 1,433.7% during the first quarter. Acadian Asset Management LLC now owns 101,728 shares of the company's stock worth $7,268,000 after acquiring an additional 95,095 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Spectrum Brands during the 1st quarter valued at $204,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Spectrum Brands by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 111,571 shares of the company's stock valued at $7,983,000 after buying an additional 6,321 shares in the last quarter. Finally, Caxton Associates LLP bought a new position in shares of Spectrum Brands in the first quarter worth about $1,849,000.

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.