Greenwood Gearhart Inc. Grows Holdings in Fortune Brands Home & Security Inc (NYSE:FBHS)

Greenwood Gearhart Inc. increased its stake in shares of Fortune Brands Home & Security Inc (NYSE:FBHS) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,709 shares of the industrial products company’s stock after buying an additional 8,428 shares during the quarter. Fortune Brands Home & Security comprises about 2.4% of Greenwood Gearhart Inc.’s holdings, making the stock its 12th largest position. Greenwood Gearhart Inc. owned approximately 0.07% of Fortune Brands Home & Security worth $7,440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of FBHS. Comerica Bank raised its holdings in Fortune Brands Home & Security by 20.6% in the 4th quarter. Comerica Bank now owns 47,596 shares of the industrial products company’s stock valued at $3,480,000 after acquiring an additional 8,129 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Fortune Brands Home & Security by 49.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 17,669 shares of the industrial products company’s stock worth $1,189,000 after purchasing an additional 5,863 shares during the period. Pensionfund DSM Netherlands purchased a new stake in Fortune Brands Home & Security during the 4th quarter worth $3,011,000. Teacher Retirement System of Texas boosted its position in Fortune Brands Home & Security by 4.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 208,110 shares of the industrial products company’s stock worth $13,991,000 after purchasing an additional 8,694 shares during the period. Finally, Peloton Wealth Strategists boosted its position in Fortune Brands Home & Security by 11.5% during the 3rd quarter. Peloton Wealth Strategists now owns 20,075 shares of the industrial products company’s stock worth $1,350,000 after purchasing an additional 2,075 shares during the period. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Fortune Brands Home & Security Inc (FBHS) opened at $62.76 on Tuesday. Fortune Brands Home & Security Inc has a 1-year low of $59.11 and a 1-year high of $73.62. The company has a market cap of $9,651.89, a PE ratio of 20.51, a PEG ratio of 1.45 and a beta of 1.42. The company has a current ratio of 1.77, a quick ratio of 1.13 and a debt-to-equity ratio of 0.58.

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

Fortune Brands Home & Security announced that its Board of Directors has approved a share buyback program on Monday, December 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Fortune Brands Home & Security from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research note on Thursday, January 11th. Loop Capital initiated coverage on shares of Fortune Brands Home & Security in a research report on Thursday, March 1st. They issued a “buy” rating and a $77.00 target price for the company. Barclays decreased their target price on shares of 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. Royal Bank of Canada decreased their price objective on shares of Fortune Brands Home & Security from $78.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, November 13th. Finally, Credit Suisse Group restated an “outperform” rating and set a $80.00 target price (up from $74.00) on shares of Fortune Brands Home & Security in a report on Monday, January 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $73.57.

In related news, Director Ronald V. Waters sold 5,000 shares of the business’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 transaction of $357,500.00. Following the completion of the transaction, the director now owns 21,674 shares in the company, valued at $1,549,691. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.61% of the stock is currently owned by insiders.

TRADEMARK VIOLATION WARNING: “Greenwood Gearhart Inc. Grows Holdings in Fortune Brands Home & Security Inc (NYSE:FBHS)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://ledgergazette.com/2018/03/13/greenwood-gearhart-inc-has-7-44-million-holdings-in-fortune-brands-home-security-inc-fbhs.html.

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.

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

Receive News & Ratings for Fortune Brands Home & Security Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Fortune Brands Home & Security and related companies with MarketBeat.com’s FREE daily email newsletter.