Tower View Investment Management & Research LLC purchased a new stake in Fortune Brands Home & Security Inc (NYSE:FBHS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,146 shares of the industrial products company’s stock, valued at approximately $1,310,000.
A number of other institutional investors have also recently bought and sold shares of FBHS. Epoch Investment Partners Inc. purchased a new position in shares of Fortune Brands Home & Security during the third quarter worth approximately $84,149,000. Vanguard Group Inc. increased its position in shares of Fortune Brands Home & Security by 3.1% during the second quarter. Vanguard Group Inc. now owns 15,160,589 shares of the industrial products company’s stock worth $989,078,000 after acquiring an additional 460,317 shares during the period. PGGM Investments purchased a new position in shares of Fortune Brands Home & Security during the third quarter worth approximately $21,244,000. Putnam FL Investment Management Co. purchased a new position in shares of Fortune Brands Home & Security during the third quarter worth approximately $16,999,000. Finally, Victory Capital Management Inc. increased its position in shares of Fortune Brands Home & Security by 27.5% during the third quarter. Victory Capital Management Inc. now owns 940,134 shares of the industrial products company’s stock worth $63,205,000 after acquiring an additional 202,754 shares during the period. 87.38% of the stock is currently owned by institutional investors.
In other Fortune Brands Home & Security news, Director Ronald V. Waters sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $71.50, for a total value of $357,500.00. Following the completion of the sale, the director now directly owns 21,674 shares in the company, valued at $1,549,691. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.61% of the stock is owned by company insiders.
Shares of Fortune Brands Home & Security Inc (NYSE FBHS) traded up $0.11 on Wednesday, reaching $70.93. 1,261,253 shares of the company’s stock traded hands, compared to its average volume of 1,008,305. The firm has a market capitalization of $10,868.94, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 1.94 and a beta of 1.41. Fortune Brands Home & Security Inc has a 52 week low of $54.62 and a 52 week high of $73.62. The company has a current ratio of 1.87, a quick ratio of 1.17 and a debt-to-equity ratio of 0.57.
Fortune Brands Home & Security announced that its board has approved a stock buyback program on Monday, December 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Friday, February 23rd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.13%. This is an increase from Fortune Brands Home & Security’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, February 22nd. Fortune Brands Home & Security’s dividend payout ratio (DPR) is 24.83%.
A number of brokerages have recently commented on FBHS. Zacks Investment Research lowered shares of Fortune Brands Home & Security from a “buy” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group lifted their price objective on shares of Fortune Brands Home & Security from $72.00 to $74.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Jefferies Group reissued a “buy” rating and set a $78.00 price objective on shares of Fortune Brands Home & Security in a report on Thursday, October 12th. Royal Bank of Canada cut their price objective on shares of Fortune Brands Home & Security from $78.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday, November 13th. Finally, SunTrust Banks reissued a “hold” rating and set a $63.00 price objective on shares of Fortune Brands Home & Security in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $71.83.
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Fortune Brands Home & Security Profile
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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