Sanders Morris Harris LLC Reduces Position in Fortune Brands Home & Security, Inc. (FBHS)

Sanders Morris Harris LLC lowered its stake in shares of Fortune Brands Home & Security, Inc. (NYSE:FBHS) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,600 shares of the industrial products company’s stock after selling 2,700 shares during the period. Fortune Brands Home & Security comprises about 2.6% of Sanders Morris Harris LLC’s portfolio, making the stock its 11th largest position. Sanders Morris Harris LLC owned approximately 0.06% of Fortune Brands Home & Security worth $6,497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Welch Group LLC purchased a new position in shares of Fortune Brands Home & Security during the first quarter valued at $112,000. State of Alaska Department of Revenue bought a new position in shares of Fortune Brands Home & Security during the first quarter worth approximately $126,000. Global X Management Co. LLC raised its position in shares of Fortune Brands Home & Security by 28.7% in the first quarter. Global X Management Co. LLC now owns 2,106 shares of the industrial products company’s stock worth $128,000 after buying an additional 470 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Fortune Brands Home & Security by 3.5% in the first quarter. Salem Investment Counselors Inc. now owns 2,454 shares of the industrial products company’s stock valued at $148,000 after buying an additional 83 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. increased its stake in shares of Fortune Brands Home & Security by 205.6% in the first quarter. NN Investment Partners Holdings N.V. now owns 2,750 shares of the industrial products company’s stock valued at $168,000 after buying an additional 1,850 shares during the last quarter. 85.89% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Home & Security, Inc. (NYSE:FBHS) traded down 1.39% during trading on Tuesday, hitting $64.35. The stock had a trading volume of 1,652,660 shares. The firm has a 50 day moving average price of $65.84 and a 200-day moving average price of $61.76. The firm has a market capitalization of $10.08 billion, a PE ratio of 22.91 and a beta of 1.39. Fortune Brands Home & Security, Inc. has a 1-year low of $52.05 and a 1-year high of $67.50.

Fortune Brands Home & Security (NYSE:FBHS) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.05. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. Fortune Brands Home & Security had a net margin of 8.61% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 earnings per share. On average, equities research analysts expect that Fortune Brands Home & Security, Inc. will post $3.10 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Friday, August 25th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 1.12%. Fortune Brands Home & Security’s dividend payout ratio (DPR) is 25.35%.

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A number of analysts have commented on the company. Jefferies Group LLC raised their price objective on Fortune Brands Home & Security from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. Instinet restated a “hold” rating on shares of Fortune Brands Home & Security in a research report on Friday, April 14th. Royal Bank Of Canada raised their target price on Fortune Brands Home & Security from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. Longbow Research raised Fortune Brands Home & Security from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a report on Tuesday, July 4th. Finally, Barclays PLC reaffirmed a “hold” rating and set a $62.00 price target on shares of Fortune Brands Home & Security in a report on Friday, April 28th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $67.73.

In other news, CEO Christopher J. Klein sold 40,063 shares of the stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $63.13, for a total value of $2,529,177.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider E Lee Wyatt sold 40,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $65.20, for a total transaction of $2,608,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,265 shares of company stock valued at $12,386,418. 1.61% of the stock is owned by corporate 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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