Spectrum Brands (NYSE:SPB) Reaches New 12-Month High – Should You Buy?

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

Analyst Ratings Changes

Several analysts have commented on SPB shares. Oppenheimer increased their price target 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. Wall Street Zen raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Wells Fargo & Company increased their target price on shares of Spectrum Brands from $62.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th. Weiss Ratings restated a “hold (c)” rating on shares of Spectrum Brands in a research note on Monday, December 29th. Finally, Royal Bank Of Canada set a $85.00 price target on shares of Spectrum Brands in a report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Spectrum Brands Stock Up 2.2%

The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 2.63 and a beta of 0.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.38 and a current ratio of 2.21. The business’s 50 day moving average is $65.73 and its 200 day moving average is $58.88.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, February 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating 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 business had revenue of $677.00 million for the quarter, compared to analyst estimates of $667.59 million. During the same quarter in the prior year, the business posted $1.02 EPS. Spectrum Brands’s revenue for the quarter was down 3.3% compared to the same quarter last year. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be paid a $0.47 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $1.88 dividend on an annualized basis and a yield of 2.4%. Spectrum Brands’s dividend payout ratio (DPR) is 43.42%.

Institutional Trading of Spectrum Brands

Large investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC raised its stake in shares of Spectrum Brands by 66.8% in the third quarter. Pzena Investment Management LLC now owns 2,459,485 shares of the company’s stock worth $129,197,000 after purchasing an additional 985,034 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in 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 worth $129,779,000 after buying an additional 2,196,079 shares during the period. Callodine Capital Management LP increased its holdings 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 worth $122,013,000 after buying an additional 350,261 shares during the period. American Century Companies Inc. raised its position 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 buying an additional 260,085 shares during the last quarter. Finally, Geode Capital Management LLC lifted 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 valued at $32,137,000 after acquiring an additional 172,132 shares during the period.

About Spectrum Brands

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.