Oppenheimer & Co. Inc. Cuts Position in Fortune Brands Home & Security, Inc. (NYSE:FBHS)

Oppenheimer & Co. Inc. cut its stake in shares of Fortune Brands Home & Security, Inc. (NYSE:FBHS) by 3.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,696 shares of the industrial products company’s stock after selling 167 shares during the period. Oppenheimer & Co. Inc.’s holdings in Fortune Brands Home & Security were worth $286,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of FBHS. BlackRock Inc. increased its stake in Fortune Brands Home & Security by 1,433.3% in the first quarter. BlackRock Inc. now owns 12,580,467 shares of the industrial products company’s stock worth $765,522,000 after buying an additional 11,759,987 shares during the last quarter. Norges Bank purchased a new stake in Fortune Brands Home & Security during the fourth quarter worth approximately $69,759,000. Victory Capital Management Inc. increased its stake in Fortune Brands Home & Security by 3,532.1% in the first quarter. Victory Capital Management Inc. now owns 715,772 shares of the industrial products company’s stock worth $43,555,000 after buying an additional 696,065 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Fortune Brands Home & Security by 28.2% in the first quarter. Pictet Asset Management Ltd. now owns 1,986,178 shares of the industrial products company’s stock valued at $120,859,000 after buying an additional 437,059 shares in the last quarter. Finally, Hermes Investment Management Ltd. bought a new stake in shares of Fortune Brands Home & Security during the first quarter valued at about $24,760,000. Institutional investors own 85.64% of the company’s stock.

Fortune Brands Home & Security, Inc. (NYSE:FBHS) opened at 67.10 on Friday. Fortune Brands Home & Security, Inc. has a one year low of $52.05 and a one year high of $67.50. The firm has a 50-day moving average of $63.82 and a 200-day moving average of $59.80. The company has a market cap of $10.32 billion, a PE ratio of 24.49 and a beta of 1.39.

Fortune Brands Home & Security (NYSE:FBHS) last announced its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.07. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. Fortune Brands Home & Security had a net margin of 8.48% and a return on equity of 19.01%. Fortune Brands Home & Security’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. On average, analysts predict that Fortune Brands Home & Security, Inc. will post $3.10 EPS for the current year.

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Several analysts recently issued reports on the company. Jefferies Group LLC increased their price target on Fortune Brands Home & Security from $67.00 to $72.00 and gave the company a “buy” rating in a report on Monday, April 24th. Instinet reiterated a “hold” rating on shares of Fortune Brands Home & Security in a report on Friday, April 14th. Longbow Research raised shares of Fortune Brands Home & Security from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Thursday, April 6th. Royal Bank Of Canada upped their price objective on shares of Fortune Brands Home & Security from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, April 27th. Finally, Barclays PLC reissued a “hold” rating and issued a $62.00 price objective on shares of Fortune Brands Home & Security in a research report on Friday, April 28th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $67.50.

In other Fortune Brands Home & Security news, CEO Christopher J. Klein sold 40,063 shares of Fortune Brands Home & Security stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $63.13, for a total transaction of $2,529,177.19. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David Randich sold 72,646 shares of Fortune Brands Home & Security stock in a transaction on Monday, May 1st. The stock was sold at an average price of $63.53, for a total transaction of $4,615,200.38. The disclosure for this sale can be found here. Insiders have sold a total of 229,611 shares of company stock valued at $14,626,719 in the last 90 days. 1.61% of the stock is currently owned by company insiders.

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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