Premier Asset Management LLC Lowers Position in Fortune Brands Home & Security Inc (FBHS)

Premier Asset Management LLC trimmed its stake in Fortune Brands Home & Security Inc (NYSE:FBHS) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 224,045 shares of the industrial products company’s stock after selling 6,250 shares during the quarter. Fortune Brands Home & Security makes up 3.4% of Premier Asset Management LLC’s holdings, making the stock its 4th biggest position. Premier Asset Management LLC owned approximately 0.15% of Fortune Brands Home & Security worth $15,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FBHS. State of Alaska Department of Revenue lifted its stake in shares of Fortune Brands Home & Security by 1.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,115 shares of the industrial products company’s stock valued at $137,000 after buying an additional 40 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Fortune Brands Home & Security by 11.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 11,140 shares of the industrial products company’s stock worth $727,000 after acquiring an additional 1,126 shares during the period. Rothschild Asset Management Inc. increased its holdings in Fortune Brands Home & Security by 5.6% during the 2nd quarter. Rothschild Asset Management Inc. now owns 7,575 shares of the industrial products company’s stock worth $494,000 after acquiring an additional 405 shares during the period. Korea Investment CORP increased its holdings in Fortune Brands Home & Security by 438.0% during the 2nd quarter. Korea Investment CORP now owns 58,100 shares of the industrial products company’s stock worth $3,790,000 after acquiring an additional 47,300 shares during the period. Finally, TD Asset Management Inc. increased its holdings in Fortune Brands Home & Security by 52.4% during the 2nd quarter. TD Asset Management Inc. now owns 98,760 shares of the industrial products company’s stock worth $6,443,000 after acquiring an additional 33,954 shares during the period. Hedge funds and other institutional investors own 87.23% of the company’s stock.

In other Fortune Brands Home & Security news, CEO Christopher J. Klein sold 85,000 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $67.13, for a total transaction of $5,706,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.61% of the company’s stock.

Fortune Brands Home & Security Inc (FBHS) traded down $0.33 during mid-day trading on Friday, hitting $68.44. 658,321 shares of the company traded hands, compared to its average volume of 811,521. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.17 and a current ratio of 1.87. Fortune Brands Home & Security Inc has a 52 week low of $53.15 and a 52 week high of $69.76. The company has a market cap of $10,390.00, a price-to-earnings ratio of 23.68, a P/E/G ratio of 2.15 and a beta of 1.41.

Fortune Brands Home & Security (NYSE:FBHS) last released its earnings results on Wednesday, October 25th. The industrial products company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.38 billion. Fortune Brands Home & Security had a net margin of 8.62% and a return on equity of 18.64%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. equities analysts predict that Fortune Brands Home & Security Inc will post 3.07 earnings per share for the current fiscal year.

Fortune Brands Home & Security announced that its board has approved a stock buyback program on Monday, December 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Friday, February 23rd will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, February 22nd. This represents a $0.80 annualized dividend and a yield of 1.17%. This is a boost from Fortune Brands Home & Security’s previous quarterly dividend of $0.18. Fortune Brands Home & Security’s dividend payout ratio is presently 24.91%.

FBHS has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Fortune Brands Home & Security from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Citigroup upped their target price on shares of Fortune Brands Home & Security from $68.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Royal Bank of Canada reaffirmed a “buy” rating and set a $75.00 target price on shares of Fortune Brands Home & Security in a report on Monday, September 25th. JPMorgan Chase & Co. increased their price target on shares of Fortune Brands Home & Security from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Finally, Credit Suisse Group increased their price target on shares of Fortune Brands Home & Security from $72.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $71.17.

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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.

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

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