Eagle Asset Management Inc. Has $36.89 Million Holdings in Fortune Brands Home & Security (FBHS)

Eagle Asset Management Inc. boosted its stake in Fortune Brands Home & Security (NYSE:FBHS) by 13.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 626,504 shares of the industrial products company’s stock after acquiring an additional 72,506 shares during the quarter. Eagle Asset Management Inc.’s holdings in Fortune Brands Home & Security were worth $36,894,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Silvant Capital Management LLC bought a new position in Fortune Brands Home & Security in the 1st quarter worth about $2,515,000. Cambridge Investment Research Advisors Inc. boosted its stake in Fortune Brands Home & Security by 18.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,098 shares of the industrial products company’s stock worth $654,000 after purchasing an additional 1,731 shares during the period. Tredje AP fonden boosted its stake in Fortune Brands Home & Security by 44.1% in the 1st quarter. Tredje AP fonden now owns 15,260 shares of the industrial products company’s stock worth $899,000 after purchasing an additional 4,670 shares during the period. Korea Investment CORP boosted its stake in Fortune Brands Home & Security by 9.8% in the 1st quarter. Korea Investment CORP now owns 71,145 shares of the industrial products company’s stock worth $4,190,000 after purchasing an additional 6,345 shares during the period. Finally, Usca Ria LLC boosted its stake in Fortune Brands Home & Security by 21.1% in the 1st quarter. Usca Ria LLC now owns 11,500 shares of the industrial products company’s stock worth $677,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Several brokerages have commented on FBHS. Zacks Investment Research downgraded Fortune Brands Home & Security from a “hold” rating to a “sell” rating in a research note on Friday, April 20th. Citigroup lowered their price target on Fortune Brands Home & Security from $74.00 to $64.00 and set a “neutral” rating on the stock in a report on Monday, April 30th. ValuEngine cut Fortune Brands Home & Security from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Gabelli raised Fortune Brands Home & Security from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Monday, February 12th. Finally, Loop Capital set a $67.00 price target on Fortune Brands Home & Security and gave the company a “buy” rating in a report on Friday, April 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $69.20.

Shares of NYSE FBHS opened at $57.78 on Monday. The stock has a market cap of $8.43 billion, a P/E ratio of 18.58, a PEG ratio of 1.29 and a beta of 1.41. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.90 and a current ratio of 1.44. Fortune Brands Home & Security has a 1-year low of $53.56 and a 1-year high of $73.62.

Fortune Brands Home & Security (NYSE:FBHS) last announced its quarterly earnings data on Thursday, April 26th. The industrial products company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.03). The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Fortune Brands Home & Security had a net margin of 8.79% and a return on equity of 19.01%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. equities analysts expect that Fortune Brands Home & Security will post 3.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 13th. Investors of record on Friday, May 25th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.38%. Fortune Brands Home & Security’s dividend payout ratio is 25.97%.

Fortune Brands Home & Security declared that its Board of Directors has authorized a share buyback plan on Monday, April 30th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 1.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

In related news, Director Ronald V. Waters sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $57.43, for a total transaction of $287,150.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.71% of the company’s stock.

Fortune Brands Home & Security Profile

Fortune Brands Home & Security, Inc, together with its subsidiaries, provides home and security products for residential home repair, remodeling, new construction, and security applications. It operates in four segments: Cabinets, Plumbing, Doors, and Security. The Cabinets segment manufactures custom, semi-custom, and stock cabinetry, as well as vanities for the kitchen, bath, and other parts of the home directly to kitchen and bath dealers, home centers, wholesalers, and builders in North America.

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Institutional Ownership by Quarter for Fortune Brands Home & Security (NYSE:FBHS)

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