Spectrum Brands (NYSE:SPB) Sets New 1-Year High – Here’s Why

Spectrum Brands Holdings Inc. (NYSE:SPB)’s share price hit a new 52-week high during trading on Saturday . The company traded as high as $80.42 and last traded at $79.9450, with a volume of 438933 shares changing hands. The stock had previously closed at $78.21.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SPB shares. Oppenheimer increased their target price on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Royal Bank Of Canada set a $85.00 target price on shares of Spectrum Brands in a research note on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Spectrum Brands in a report on Monday, December 29th. Canaccord Genuity Group increased their price target on shares of Spectrum Brands from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Finally, Wall Street Zen raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Spectrum Brands currently has an average rating of “Moderate Buy” and an average price target of $83.00.

Spectrum Brands Trading Up 2.2%

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.21 and a quick ratio of 1.38. The firm has a market cap of $1.85 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.70 and a beta of 0.68. The company’s 50 day moving average price is $65.73 and its 200 day moving average price is $58.95.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, February 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.63. Spectrum Brands had a net margin of 3.76% and a return on equity of 7.65%. The company had revenue of $677.00 million for the quarter, compared to analyst estimates of $667.59 million. During the same period in the prior year, the business earned $1.02 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, February 17th. Spectrum Brands’s dividend payout ratio is currently 43.42%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SPB. Pzena Investment Management LLC lifted its stake in Spectrum Brands by 66.8% in the third quarter. Pzena Investment Management LLC now owns 2,459,485 shares of the company’s stock valued at $129,197,000 after buying an additional 985,034 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Spectrum Brands by 374,119.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock valued at $129,779,000 after acquiring an additional 2,196,079 shares during the period. Callodine Capital Management LP raised its position in Spectrum Brands by 20.4% in the 4th quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock valued at $122,013,000 after purchasing an additional 350,261 shares during the last quarter. American Century Companies Inc. boosted its stake in Spectrum Brands by 14.5% during the 3rd quarter. American Century Companies Inc. now owns 2,052,850 shares of the company’s stock worth $107,836,000 after purchasing an additional 260,085 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Spectrum Brands by 39.6% during the 2nd quarter. Geode Capital Management LLC now owns 606,272 shares of the company’s stock worth $32,137,000 after purchasing an additional 172,132 shares during the period.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.