CIBC Asset Management Inc Has $1.03 Million Holdings in Fortune Brands Home & Security Inc …

CIBC Asset Management Inc trimmed its stake in Fortune Brands Home & Security Inc (NYSE:FBHS) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,000 shares of the industrial products company’s stock after selling 1,032 shares during the quarter. CIBC Asset Management Inc’s holdings in Fortune Brands Home & Security were worth $1,027,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Aperio Group LLC lifted its position in shares of Fortune Brands Home & Security by 4.7% in the fourth quarter. Aperio Group LLC now owns 76,565 shares of the industrial products company’s stock valued at $5,240,000 after buying an additional 3,452 shares during the last quarter. Comerica Bank lifted its position in shares of Fortune Brands Home & Security by 20.6% in the fourth quarter. Comerica Bank now owns 47,596 shares of the industrial products company’s stock valued at $3,480,000 after buying an additional 8,129 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Fortune Brands Home & Security in the fourth quarter valued at approximately $868,000. Dean Capital Investments Management LLC acquired a new stake in shares of Fortune Brands Home & Security in the fourth quarter valued at approximately $424,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Fortune Brands Home & Security by 37.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,219 shares of the industrial products company’s stock valued at $2,958,000 after buying an additional 11,857 shares during the last quarter. Hedge funds and other institutional investors own 87.04% of the company’s stock.

A number of research firms have recently issued reports on FBHS. Nomura cut their price objective on Fortune Brands Home & Security from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Zacks Investment Research raised Fortune Brands Home & Security from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Monday, February 5th. Gabelli raised Fortune Brands Home & Security from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Monday. Barclays cut their price objective on Fortune Brands Home & Security from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, February 2nd. Finally, Credit Suisse Group raised their price objective on Fortune Brands Home & Security from $72.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $73.31.

Shares of Fortune Brands Home & Security Inc (NYSE:FBHS) opened at $63.15 on Tuesday. The firm has a market capitalization of $9,367.63, a P/E ratio of 20.04, a P/E/G ratio of 1.40 and a beta of 1.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.13 and a current ratio of 1.77. Fortune Brands Home & Security Inc has a fifty-two week low of $56.19 and a fifty-two week high of $73.62.

Fortune Brands Home & Security (NYSE:FBHS) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.80 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Fortune Brands Home & Security had a return on equity of 18.73% and a net margin of 8.95%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. analysts predict that Fortune Brands Home & Security Inc will post 3.63 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Friday, February 23rd will be issued a dividend of $0.20 per share. This is a boost from Fortune Brands Home & Security’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, February 22nd. Fortune Brands Home & Security’s dividend payout ratio (DPR) is presently 23.53%.

Fortune Brands Home & Security declared that its Board of Directors has authorized a stock buyback plan on Monday, December 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In related news, Director Ronald V. Waters sold 5,000 shares of Fortune Brands Home & Security stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $71.50, for a total transaction of $357,500.00. Following the completion of the sale, the director now directly owns 21,674 shares of the company’s stock, valued at approximately $1,549,691. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.61% of the company’s stock.

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About Fortune Brands Home & Security

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.

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

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