Westpac Banking Corp Acquires 46,170 Shares of Fortune Brands Home & Security Inc (NYSE:FBHS)

Westpac Banking Corp raised its holdings in Fortune Brands Home & Security Inc (NYSE:FBHS) by 47.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,555 shares of the industrial products company’s stock after purchasing an additional 46,170 shares during the period. Westpac Banking Corp’s holdings in Fortune Brands Home & Security were worth $6,835,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FBHS. Norges Bank bought a new stake in Fortune Brands Home & Security in the 4th quarter valued at about $58,147,000. FMR LLC boosted its holdings in Fortune Brands Home & Security by 44.9% in the 4th quarter. FMR LLC now owns 3,002,891 shares of the industrial products company’s stock valued at $114,079,000 after purchasing an additional 929,793 shares during the period. Two Sigma Advisers LP boosted its holdings in Fortune Brands Home & Security by 156.3% in the 4th quarter. Two Sigma Advisers LP now owns 757,384 shares of the industrial products company’s stock valued at $28,773,000 after purchasing an additional 461,912 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Fortune Brands Home & Security by 40.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,539,338 shares of the industrial products company’s stock valued at $58,478,000 after purchasing an additional 445,041 shares during the period. Finally, Eagle Asset Management Inc. boosted its holdings in Fortune Brands Home & Security by 33.0% in the 1st quarter. Eagle Asset Management Inc. now owns 1,775,072 shares of the industrial products company’s stock valued at $84,511,000 after purchasing an additional 440,020 shares during the period. 87.13% of the stock is owned by hedge funds and other institutional investors.

FBHS has been the subject of a number of recent research reports. Bank of America raised shares of Fortune Brands Home & Security from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $64.00 in a report on Monday, May 6th. Credit Suisse Group boosted their price objective on shares of Fortune Brands Home & Security from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, March 18th. ValuEngine raised shares of Fortune Brands Home & Security from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Royal Bank of Canada boosted their price objective on shares of Fortune Brands Home & Security to $56.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Finally, SunTrust Banks boosted their price objective on shares of Fortune Brands Home & Security to $50.00 and gave the company a “hold” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, six 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 price target of $53.90.

In related news, insider David Randich sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $53.00, for a total transaction of $1,060,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Brian C. Lantz sold 2,192 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $52.55, for a total transaction of $115,189.60. The disclosure for this sale can be found here. Insiders sold a total of 25,247 shares of company stock valued at $1,338,571 over the last 90 days. Corporate insiders own 1.63% of the company’s stock.

Shares of NYSE:FBHS opened at $54.01 on Friday. The company has a market capitalization of $7.44 billion, a PE ratio of 16.17, a PEG ratio of 1.58 and a beta of 1.47. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 1.03. Fortune Brands Home & Security Inc has a 12 month low of $35.27 and a 12 month high of $58.21.

Fortune Brands Home & Security (NYSE:FBHS) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Fortune Brands Home & Security had a net margin of 7.18% and a return on equity of 22.33%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 EPS. As a group, research analysts expect that Fortune Brands Home & Security Inc will post 3.66 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Friday, May 31st will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, May 30th. Fortune Brands Home & Security’s payout ratio is presently 26.35%.

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Fortune Brands Home & Security Company 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 three segments: Cabinets, Plumbing, and Doors & 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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