First Citizens Bank & Trust Co. trimmed its holdings in shares of Fortune Brands Home & Security Inc (NYSE:FBHS) by 12.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,249 shares of the industrial products company’s stock after selling 5,600 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Fortune Brands Home & Security were worth $2,755,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Acrospire Investment Management LLC grew its holdings in Fortune Brands Home & Security by 60.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the industrial products company’s stock valued at $104,000 after buying an additional 600 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Fortune Brands Home & Security in the 3rd quarter valued at $117,000. Northwestern Mutual Wealth Management Co. grew its holdings in Fortune Brands Home & Security by 1.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,884 shares of the industrial products company’s stock valued at $123,000 after buying an additional 23 shares in the last quarter. Stephens Inc. AR purchased a new stake in Fortune Brands Home & Security in the 2nd quarter valued at $201,000. Finally, First Midwest Bank Trust Division purchased a new stake in Fortune Brands Home & Security in the 3rd quarter valued at $209,000. 87.38% of the stock is owned by institutional investors and hedge funds.
In related news, Director Ronald V. Waters sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $71.50, for a total transaction of $357,500.00. Following the transaction, the director now owns 21,674 shares in the company, valued at approximately $1,549,691. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.61% of the stock is currently owned by company insiders.
A number of research firms have recently weighed in on FBHS. Credit Suisse Group reiterated an “outperform” rating and set a $80.00 price target (up from $74.00) on shares of Fortune Brands Home & Security in a report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research cut Fortune Brands Home & Security from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup increased their price target on Fortune Brands Home & Security from $68.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Robert W. Baird reissued a “buy” rating and set a $72.00 target price on shares of Fortune Brands Home & Security in a research note on Tuesday, October 24th. Finally, JPMorgan Chase & Co. increased their target price on Fortune Brands Home & Security from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $71.83.
Shares of Fortune Brands Home & Security Inc (NYSE:FBHS) opened at $69.82 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.87 and a quick ratio of 1.17. The stock has a market capitalization of $10,750.53, a PE ratio of 24.08, a price-to-earnings-growth ratio of 1.93 and a beta of 1.41. Fortune Brands Home & Security Inc has a 12-month low of $55.14 and a 12-month high of $73.62.
Fortune Brands Home & Security (NYSE:FBHS) last posted its quarterly earnings results on Monday, January 29th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Fortune Brands Home & Security had a return on equity of 18.64% and a net margin of 8.62%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the company earned $0.71 EPS. Fortune Brands Home & Security’s revenue for the quarter was up 6.2% compared to the same quarter last year. equities research analysts expect that Fortune Brands Home & Security Inc will post 3.07 earnings per share for the current fiscal year.
Fortune Brands Home & Security declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, February 22nd. This is a positive change from Fortune Brands Home & Security’s previous quarterly dividend of $0.18. Fortune Brands Home & Security’s dividend payout ratio (DPR) is 24.83%.
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About Fortune Brands Home & Security
Fortune Brands Home & Security, Inc is a holding company. The Company operates through four segments. The Cabinets segment includes custom, semi-custom and stock cabinetry for the kitchen, bath and other parts of the home under brand names, including Aristokraft, Mid-Continent, Diamond, Kitchen Classics, Kitchen Craft, Schrock, Omega, Homecrest, Thomasville, StarMark and Ultracraft.
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