Short Interest in Fortune Brands Home & Security Inc (NYSE:FBHS) Drops By 17.0%

Fortune Brands Home & Security Inc (NYSE:FBHS) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 3,784,800 shares, a decrease of 17.0% from the June 30th total of 4,559,000 shares. Approximately 2.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,320,000 shares, the short-interest ratio is currently 2.9 days.

FBHS has been the subject of a number of recent research reports. ValuEngine upgraded shares of Fortune Brands Home & Security from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Bank of America upgraded shares of Fortune Brands Home & Security from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $64.00 in a research note on Monday, May 6th. Zacks Investment Research cut shares of Fortune Brands Home & Security from a “hold” rating to a “sell” rating and set a $54.00 price target for the company. in a research note on Monday, August 5th. TheStreet upgraded shares of Fortune Brands Home & Security from a “c+” rating to a “b-” rating in a research note on Friday, June 28th. Finally, SunTrust Banks increased their price target on shares of Fortune Brands Home & Security to $50.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Fortune Brands Home & Security has an average rating of “Hold” and an average target price of $54.30.

In related news, Director A D. David Mackay sold 10,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $50.40, for a total transaction of $504,000.00. Following the completion of the sale, the director now owns 11,532 shares in the company, valued at approximately $581,212.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronald V. Waters sold 5,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $56.74, for a total transaction of $283,700.00. Following the sale, the director now owns 11,589 shares of the company’s stock, valued at approximately $657,559.86. The disclosure for this sale can be found here. Corporate insiders own 1.63% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in FBHS. MidWestOne Financial Group Inc. purchased a new position in Fortune Brands Home & Security during the 2nd quarter valued at about $439,000. Stonebridge Capital Advisors LLC purchased a new position in Fortune Brands Home & Security during the 2nd quarter valued at about $114,000. Doyle Wealth Management acquired a new stake in shares of Fortune Brands Home & Security during the 2nd quarter worth about $50,000. Nuveen Asset Management LLC acquired a new stake in shares of Fortune Brands Home & Security during the 2nd quarter worth about $32,493,000. Finally, Townsquare Capital LLC boosted its stake in shares of Fortune Brands Home & Security by 33.3% during the 2nd quarter. Townsquare Capital LLC now owns 30,845 shares of the industrial products company’s stock worth $1,593,000 after purchasing an additional 7,702 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Fortune Brands Home & Security stock traded down $0.12 during trading hours on Thursday, reaching $49.73. 853,100 shares of the stock were exchanged, compared to its average volume of 1,483,085. The stock has a market cap of $6.98 billion, a P/E ratio of 14.89, a P/E/G ratio of 1.55 and a beta of 1.54. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.69 and a current ratio of 1.13. Fortune Brands Home & Security has a 52-week low of $35.27 and a 52-week high of $58.15. The firm’s 50 day moving average is $54.44 and its 200 day moving average is $50.89.

Fortune Brands Home & Security (NYSE:FBHS) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.03 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.03. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.53 billion. Fortune Brands Home & Security had a net margin of 7.22% and a return on equity of 21.81%. Fortune Brands Home & Security’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS. Equities research analysts expect that Fortune Brands Home & Security will post 3.6 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Friday, August 30th will be issued a $0.22 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.77%. Fortune Brands Home & Security’s dividend payout ratio is presently 26.35%.

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 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.

Further Reading: How Does the Quiet Period Work?

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