Spectrum Brands (NYSE:SPB) Trading Down 2.5%

Spectrum Brands Holdings, Inc. (NYSE:SPB)’s stock price traded down 2.5% during trading on Wednesday . The company traded as low as $84.91 and last traded at $85.10. 49,023 shares were traded during mid-day trading, a decline of 88% from the average session volume of 414,712 shares. The stock had previously closed at $87.29.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group lowered their price target on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a report on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $114.00 price objective on shares of Spectrum Brands in a research note on Friday, June 7th. Monness Crespi & Hardt lifted their price objective on shares of Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Finally, Oppenheimer lifted their price objective on shares of Spectrum Brands from $88.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Spectrum Brands currently has a consensus rating of “Hold” and a consensus target price of $99.57.

Spectrum Brands Price Performance

The business’s 50-day moving average price is $88.76 and its 200 day moving average price is $84.12. The stock has a market capitalization of $2.48 billion, a PE ratio of 1.77, a price-to-earnings-growth ratio of 0.37 and a beta of 1.19. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.05 and a current ratio of 3.73.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, May 9th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $1.13. The firm had revenue of $718.50 million during the quarter, compared to analyst estimates of $708.54 million. Spectrum Brands had a net margin of 68.11% and a return on equity of 6.43%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.14) EPS. Research analysts forecast that Spectrum Brands Holdings, Inc. will post 4.68 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.98%. Spectrum Brands’s dividend payout ratio (DPR) is currently 3.40%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC purchased a new position in Spectrum Brands in the first quarter worth $27,000. Central Pacific Bank Trust Division purchased a new position in Spectrum Brands in the first quarter worth $30,000. Larson Financial Group LLC grew its position in Spectrum Brands by 72.6% in the fourth quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock worth $29,000 after acquiring an additional 151 shares in the last quarter. International Assets Investment Management LLC grew its position in Spectrum Brands by 1,713.6% in the fourth quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock worth $32,000 after acquiring an additional 377 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in Spectrum Brands in the first quarter worth $42,000.

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.