Eagle Asset Management Inc. Buys 56,811 Shares of Fortune Brands Home & Security Inc (FBHS)

Share on StockTwits

Eagle Asset Management Inc. lifted its stake in Fortune Brands Home & Security Inc (NYSE:FBHS) by 9.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 683,315 shares of the industrial products company’s stock after buying an additional 56,811 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.48% of Fortune Brands Home & Security worth $36,687,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of FBHS. BlackRock Inc. boosted its position in Fortune Brands Home & Security by 9.8% during the first quarter. BlackRock Inc. now owns 13,973,812 shares of the industrial products company’s stock worth $822,920,000 after purchasing an additional 1,248,241 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Fortune Brands Home & Security by 6.3% during the first quarter. JPMorgan Chase & Co. now owns 7,347,930 shares of the industrial products company’s stock worth $432,719,000 after purchasing an additional 433,386 shares in the last quarter. Schroder Investment Management Group boosted its position in Fortune Brands Home & Security by 21.6% during the first quarter. Schroder Investment Management Group now owns 1,695,850 shares of the industrial products company’s stock worth $99,869,000 after purchasing an additional 300,877 shares in the last quarter. Epoch Investment Partners Inc. boosted its position in Fortune Brands Home & Security by 35.0% during the first quarter. Epoch Investment Partners Inc. now owns 1,635,283 shares of the industrial products company’s stock worth $96,302,000 after purchasing an additional 424,121 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Fortune Brands Home & Security by 4.4% during the second quarter. Wells Fargo & Company MN now owns 1,275,757 shares of the industrial products company’s stock worth $68,496,000 after purchasing an additional 53,898 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

FBHS has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on Fortune Brands Home & Security to $66.00 and gave the stock an “outperform” rating in a research report on Friday, April 27th. Barclays lowered their price target on Fortune Brands Home & Security from $70.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, April 27th. ValuEngine downgraded Fortune Brands Home & Security from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Credit Suisse Group lowered their price target on Fortune Brands Home & Security from $80.00 to $67.00 and set a “buy” rating on the stock in a research report on Friday, April 27th. Finally, Bank of America downgraded Fortune Brands Home & Security from a “buy” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research report on Monday, May 14th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $68.77.

NYSE FBHS opened at $54.93 on Friday. The company has a market capitalization of $7.78 billion, a PE ratio of 17.83, a PEG ratio of 1.18 and a beta of 1.37. Fortune Brands Home & Security Inc has a 1-year low of $52.63 and a 1-year high of $73.62. The company has a current ratio of 1.47, a quick ratio of 0.96 and a debt-to-equity ratio of 0.82.

Fortune Brands Home & Security (NYSE:FBHS) last released its earnings results on Thursday, July 26th. The industrial products company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.02). The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Fortune Brands Home & Security had a net margin of 8.53% and a return on equity of 20.07%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 EPS. research analysts predict that Fortune Brands Home & Security Inc will post 3.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Stockholders of record on Friday, August 31st will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.46%. Fortune Brands Home & Security’s dividend payout ratio (DPR) is presently 25.97%.

Fortune Brands Home & Security declared that its board has authorized a stock repurchase plan on Monday, April 30th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

About Fortune Brands Home & Security

Fortune Brands Home & Security, Inc, together with its subsidiaries, provides home and security products for residential home repair, remodeling, new construction, and security applications. It operates in four segments: Cabinets, Plumbing, Doors, and Security. The Cabinets segment manufactures custom, semi-custom, and stock cabinetry, as well as vanities for the kitchen, bath, and other parts of the home directly to kitchen and bath dealers, home centers, wholesalers, and builders in North America.

Featured Story: Trading Strategy Methods for Individual Investors

Want to see what other hedge funds are holding FBHS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortune Brands Home & Security Inc (NYSE:FBHS).

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.

Leave a Reply