Spectrum Brands (NYSE:SPB) Reaches New 12-Month 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

SPB has been the subject of several recent analyst reports. UBS Group upped their target price 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. 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 report on Wednesday, May 14th. Finally, 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 report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Spectrum Brands has a consensus rating of "Moderate Buy" and an average price target of $89.17.

Spectrum Brands Trading Down 4.8%

The business's 50 day moving average price is $60.40 and its two-hundred day moving average price is $73.70. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 12.70, 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.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.67). Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. The company had revenue of $675.70 million during the quarter, compared to analyst estimates of $701.00 million. During the same period in the prior year, the company posted $1.62 earnings per share. The company's revenue was down 6.0% on a year-over-year basis. Equities analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Tuesday, May 27th. Spectrum Brands's dividend payout ratio is presently 89.95%.

Insider Activity at Spectrum Brands

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

Institutional Trading of Spectrum Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPB. Steward Partners Investment Advisory LLC acquired a new stake in Spectrum Brands during the fourth quarter valued at approximately $50,000. Versant Capital Management Inc lifted its position 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 approximately $118,000. Lazard Asset Management LLC lifted its position 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 approximately $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.