Spectrum Brands (NYSE:SPB) Sets New 12-Month Low - Here's Why

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 changing hands. The stock had previously closed at $52.10.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SPB. UBS Group raised their price objective on Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Monness Crespi & Hardt decreased their price objective on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Canaccord Genuity Group set a $77.00 price objective on Spectrum Brands and gave the company a "buy" rating in a report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $85.00.

Spectrum Brands Price Performance

The company has a quick ratio of 1.40, a current ratio of 2.34 and a debt-to-equity ratio of 0.34. The firm has a market cap of $1.30 billion, a P/E ratio of 25.31 and a beta of 0.93. The business has a fifty day moving average of $58.84 and a 200 day moving average of $71.13.

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

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Tuesday, May 27th. Spectrum Brands's payout ratio is currently 89.95%.

Insider Buying and Selling

In other Spectrum Brands news, CEO David M. Maura sold 5,180 shares of the firm's 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 in the company, valued at $45,814,089.79. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Spectrum Brands

Several hedge funds have recently bought and sold shares of SPB. Steward Partners Investment Advisory LLC acquired a new stake in Spectrum Brands during the fourth quarter worth approximately $50,000. Versant Capital Management Inc lifted its position in Spectrum Brands by 101.7% during the first quarter. Versant Capital Management Inc now owns 970 shares of the company's stock worth $69,000 after acquiring an additional 489 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in Spectrum Brands during the first quarter worth approximately $118,000. Lazard Asset Management LLC lifted its position in Spectrum Brands by 89.6% during the fourth quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock worth $123,000 after acquiring an additional 692 shares during the last quarter. Finally, Quarry LP acquired a new stake in Spectrum Brands during the first quarter worth 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.