Bank of New York Mellon Corp Sells 33,111 Shares of Fortune Brands Home & Security Inc (FBHS)

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Fortune Brands Home & Security logo
Fortune Brands Home & Security logo

Bank of New York Mellon Corp lowered its holdings in Fortune Brands Home & Security Inc (NYSE:FBHS) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,330,797 shares of the industrial products company’s stock after selling 33,111 shares during the period. Bank of New York Mellon Corp’s holdings in Fortune Brands Home & Security were worth $71,450,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Koch Industries Inc. lifted its holdings in shares of Fortune Brands Home & Security by 55.3% during the 1st quarter. Koch Industries Inc. now owns 10,903 shares of the industrial products company’s stock worth $642,000 after acquiring an additional 3,884 shares during the period. Citigroup Inc. lifted its holdings in shares of Fortune Brands Home & Security by 6.8% during the 1st quarter. Citigroup Inc. now owns 297,110 shares of the industrial products company’s stock worth $17,495,000 after acquiring an additional 18,792 shares during the period. Aurora Investment Counsel bought a new stake in shares of Fortune Brands Home & Security during the 2nd quarter worth approximately $1,895,000. Daiwa Securities Group Inc. lifted its holdings in shares of Fortune Brands Home & Security by 40.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 100,311 shares of the industrial products company’s stock worth $5,907,000 after acquiring an additional 28,757 shares during the period. Finally, Wendell David Associates Inc. bought a new stake in shares of Fortune Brands Home & Security during the 2nd quarter worth approximately $582,000. 84.37% of the stock is owned by hedge funds and other institutional investors.

FBHS has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Fortune Brands Home & Security from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. Bank of America downgraded shares of Fortune Brands Home & Security from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $64.00 to $61.00 in a report on Friday, August 10th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Fortune Brands Home & Security from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Monday, July 30th. Three 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. The company currently has an average rating of “Hold” and a consensus target price of $68.77.

FBHS stock opened at $54.71 on Wednesday. The company has a market cap of $7.73 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.17 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 quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 0.82.

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

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Friday, August 31st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, August 30th. Fortune Brands Home & Security’s dividend payout ratio is 25.97%.

Fortune Brands Home & Security Profile

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.

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

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