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

Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $50.73 and last traded at $52.57, with a volume of 522726 shares. The stock had previously closed at $52.10.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Monness Crespi & Hardt lowered 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. UBS Group increased 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. Finally, Wells Fargo & Company reduced their price objective 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Spectrum Brands has a consensus rating of "Moderate Buy" and an average target price of $89.17.

Spectrum Brands Trading Down 0.2%

The company has a 50 day simple moving average of $59.27 and a two-hundred day simple moving average of $71.69. The firm has a market cap of $1.31 billion, a PE ratio of 25.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.40 and a current ratio of 2.34.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced 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). The company had revenue of $675.70 million for the quarter, compared to analyst estimates of $701.00 million. Spectrum Brands had a return on equity of 5.20% and a net margin of 2.02%. Spectrum Brands's revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 earnings per share. Analysts expect that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.59%. Spectrum Brands's payout ratio is 89.95%.

Insiders Place Their Bets

In other Spectrum Brands news, CEO David M. Maura sold 66,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $65.53, for a total transaction of $4,324,980.00. Following the completion of the sale, the chief executive officer now directly owns 723,607 shares in the company, valued at approximately $47,417,966.71. The trade was a 8.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its position in Spectrum Brands by 1.7% during the fourth quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company's stock worth $112,654,000 after buying an additional 22,484 shares in the last quarter. American Century Companies Inc. raised its holdings in Spectrum Brands by 7.5% in the 1st quarter. American Century Companies Inc. now owns 1,319,420 shares of the company's stock valued at $94,405,000 after buying an additional 92,418 shares during the period. Alberta Investment Management Corp lifted its position in Spectrum Brands by 33.1% in the first quarter. Alberta Investment Management Corp now owns 750,029 shares of the company's stock valued at $53,665,000 after buying an additional 186,729 shares during the last quarter. Callodine Capital Management LP boosted its position in shares of Spectrum Brands by 38.4% during the 1st quarter. Callodine Capital Management LP now owns 730,000 shares of the company's stock worth $52,232,000 after purchasing an additional 202,500 shares during the period. Finally, Armistice Capital LLC grew its stake in shares of Spectrum Brands by 20.0% in the first quarter. Armistice Capital LLC now owns 691,000 shares of the company's stock valued at $49,441,000 after buying an additional 115,143 shares in the last quarter.

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.