Xact Kapitalforvaltning AB Lowers Position in Fortune Brands Home & Security Inc (FBHS)

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Xact Kapitalforvaltning AB lowered its stake in shares of Fortune Brands Home & Security Inc (NYSE:FBHS) by 20.5% during the third quarter, Holdings Channel reports. The institutional investor owned 18,638 shares of the industrial products company’s stock after selling 4,817 shares during the period. Xact Kapitalforvaltning AB’s holdings in Fortune Brands Home & Security were worth $976,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FBHS. Arizona State Retirement System boosted its holdings in Fortune Brands Home & Security by 43.1% in the 2nd quarter. Arizona State Retirement System now owns 79,155 shares of the industrial products company’s stock valued at $4,250,000 after purchasing an additional 23,848 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in Fortune Brands Home & Security in the 2nd quarter valued at approximately $2,323,000. Bank of America Corp DE boosted its holdings in Fortune Brands Home & Security by 17.7% in the 2nd quarter. Bank of America Corp DE now owns 734,818 shares of the industrial products company’s stock valued at $39,451,000 after purchasing an additional 110,464 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Fortune Brands Home & Security by 287.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 117,945 shares of the industrial products company’s stock valued at $6,332,000 after purchasing an additional 87,539 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Fortune Brands Home & Security in the 2nd quarter valued at approximately $4,591,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

FBHS stock opened at $45.70 on Monday. Fortune Brands Home & Security Inc has a 12-month low of $40.89 and a 12-month high of $73.62. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.30 and a quick ratio of 0.83. The company has a market cap of $6.51 billion, a PE ratio of 14.84, a P/E/G ratio of 1.25 and a beta of 1.31.

Fortune Brands Home & Security (NYSE:FBHS) last posted its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.12). Fortune Brands Home & Security had a net margin of 7.94% and a return on equity of 20.95%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.44 billion. On average, analysts forecast that Fortune Brands Home & Security Inc will post 3.43 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 30th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.75%. Fortune Brands Home & Security’s payout ratio is 25.97%.

In other news, Director Ronald V. Waters sold 5,000 shares of Fortune Brands Home & Security stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $51.31, for a total transaction of $256,550.00. Following the completion of the sale, the director now directly owns 14,142 shares in the company, valued at approximately $725,626.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.71% of the stock is currently owned by company insiders.

FBHS has been the topic of a number of analyst reports. ValuEngine lowered Fortune Brands Home & Security from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 4th. Loop Capital lowered their price objective on Fortune Brands Home & Security to $59.00 and set a “buy” rating on the stock in a report on Thursday, October 25th. Bank of America lowered Fortune Brands Home & Security from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $64.00 to $61.00 in a report on Friday, August 10th. They noted that the move was a valuation call. Goldman Sachs Group initiated coverage on Fortune Brands Home & Security in a report on Tuesday, October 2nd. They issued a “neutral” rating and a $64.00 price objective on the stock. Finally, Longbow Research lowered Fortune Brands Home & Security from a “buy” rating to a “neutral” rating in a report on Friday, October 12th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $61.58.

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.

Further Reading: Dividend

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)

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