Credit Suisse AG Reduces Position in Fortune Brands Home & Security Inc (FBHS)

Credit Suisse AG cut its position in shares of Fortune Brands Home & Security Inc (NYSE:FBHS) by 14.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 241,123 shares of the industrial products company’s stock after selling 40,555 shares during the quarter. Credit Suisse AG’s holdings in Fortune Brands Home & Security were worth $12,625,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC raised its stake in Fortune Brands Home & Security by 17.1% during the second quarter. Riverhead Capital Management LLC now owns 6,322 shares of the industrial products company’s stock valued at $339,000 after buying an additional 923 shares during the last quarter. D.A. Davidson & CO. raised its stake in Fortune Brands Home & Security by 10.8% during the second quarter. D.A. Davidson & CO. now owns 10,518 shares of the industrial products company’s stock valued at $565,000 after buying an additional 1,024 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Fortune Brands Home & Security by 10.2% during the third quarter. Meeder Asset Management Inc. now owns 13,342 shares of the industrial products company’s stock valued at $698,000 after buying an additional 1,239 shares during the last quarter. Peloton Wealth Strategists raised its stake in Fortune Brands Home & Security by 6.3% during the second quarter. Peloton Wealth Strategists now owns 21,825 shares of the industrial products company’s stock valued at $1,172,000 after buying an additional 1,300 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Fortune Brands Home & Security by 11.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,419 shares of the industrial products company’s stock valued at $667,000 after buying an additional 1,321 shares during the last quarter. Institutional investors own 86.87% of the company’s stock.

In other news, Director Ronald V. Waters sold 5,000 shares of the business’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $51.31, for a total value of $256,550.00. Following the completion of the transaction, the director now owns 14,142 shares in the company, valued at $725,626.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.71% of the stock is owned by insiders.

FBHS stock opened at $42.54 on Friday. Fortune Brands Home & Security Inc has a 1-year low of $40.89 and a 1-year high of $73.62. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.30 and a quick ratio of 0.83. The firm has a market capitalization of $5.97 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.15 and a beta of 1.31.

Fortune Brands Home & Security (NYSE:FBHS) last posted its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.12). Fortune Brands Home & Security had a return on equity of 20.95% and a net margin of 7.94%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.44 billion. As a group, research analysts anticipate that Fortune Brands Home & Security Inc will post 3.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, November 29th. Fortune Brands Home & Security’s dividend payout ratio is currently 25.97%.

A number of brokerages have issued reports on FBHS. Zacks Investment Research cut Fortune Brands Home & Security from a “hold” rating to a “sell” rating in a research note on Tuesday, October 30th. Macquarie lowered their price objective on Fortune Brands Home & Security from $68.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, September 6th. Bank of America cut Fortune Brands Home & Security from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $64.00 to $61.00 in a research note on Friday, August 10th. They noted that the move was a valuation call. SunTrust Banks lowered their price objective on Fortune Brands Home & Security to $46.00 and set a “hold” rating for the company in a research note on Friday, October 26th. Finally, Loop Capital lowered their price objective on Fortune Brands Home & Security to $59.00 and set a “buy” rating for the company in a research note on Thursday, October 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $61.58.

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About Fortune Brands Home & Security

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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