M&T Bank Corp Increases Position in Fortune Brands Home & Security Inc (FBHS)

M&T Bank Corp increased its holdings in shares of Fortune Brands Home & Security Inc (NYSE:FBHS) by 396.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 114,063 shares of the industrial products company’s stock after purchasing an additional 91,080 shares during the period. M&T Bank Corp owned 0.08% of Fortune Brands Home & Security worth $7,807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in FBHS. Dimensional Fund Advisors LP boosted its position in Fortune Brands Home & Security by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 797,994 shares of the industrial products company’s stock worth $52,061,000 after purchasing an additional 43,781 shares during the period. OxFORD Asset Management LLP purchased a new stake in Fortune Brands Home & Security during the 2nd quarter worth $732,000. Employees Retirement System of Texas purchased a new stake in Fortune Brands Home & Security during the 2nd quarter worth $848,000. Royal Bank of Canada boosted its position in Fortune Brands Home & Security by 9.8% in the 2nd quarter. Royal Bank of Canada now owns 91,706 shares of the industrial products company’s stock valued at $5,982,000 after buying an additional 8,167 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in Fortune Brands Home & Security by 33.6% in the 2nd quarter. Janus Henderson Group PLC now owns 566,779 shares of the industrial products company’s stock valued at $36,977,000 after buying an additional 142,508 shares during the last quarter. 87.04% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Ronald V. Waters sold 5,000 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $71.50, for a total transaction of $357,500.00. Following the sale, the director now owns 21,674 shares in the company, valued at $1,549,691. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.61% of the stock is owned by corporate insiders.

A number of research firms have weighed in on FBHS. Credit Suisse Group upped 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 research report on Thursday, October 26th. Royal Bank of Canada reduced their price target on shares of Fortune Brands Home & Security from $78.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, November 13th. Gabelli raised shares of Fortune Brands Home & Security from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Monday. Zacks Investment Research raised shares of Fortune Brands Home & Security from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Monday, February 5th. Finally, Barclays reduced their price target on shares of Fortune Brands Home & Security from $71.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $73.31.

Fortune Brands Home & Security Inc (NYSE:FBHS) opened at $63.15 on Tuesday. 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 12-month low of $56.19 and a 12-month high of $73.62. The company has a market cap of $9,367.63, a PE ratio of 20.04, a PEG ratio of 1.40 and a beta of 1.33.

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

Fortune Brands Home & Security announced that its Board of Directors has approved a stock repurchase plan on Monday, December 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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

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Fortune Brands Home & Security Company 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)

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