Strs Ohio Sells 139,859 Shares of Fortune Brands Home & Security Inc (FBHS)

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

Strs Ohio cut its stake in shares of Fortune Brands Home & Security Inc (NYSE:FBHS) by 78.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,348 shares of the industrial products company’s stock after selling 139,859 shares during the quarter. Strs Ohio’s holdings in Fortune Brands Home & Security were worth $2,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Standard Life Aberdeen plc lifted its holdings in shares of Fortune Brands Home & Security by 5.8% during the second quarter. Standard Life Aberdeen plc now owns 2,894,980 shares of the industrial products company’s stock worth $155,445,000 after purchasing an additional 158,026 shares during the period. Schroder Investment Management Group raised its position in Fortune Brands Home & Security by 35.7% in the second quarter. Schroder Investment Management Group now owns 2,301,593 shares of the industrial products company’s stock worth $122,882,000 after acquiring an additional 605,743 shares in the last quarter. Wells Fargo & Company MN raised its position in Fortune Brands Home & Security by 4.4% in 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 acquiring an additional 53,898 shares in the last quarter. Glenmede Trust Co. NA raised its position in Fortune Brands Home & Security by 4,953.2% in the second quarter. Glenmede Trust Co. NA now owns 1,018,622 shares of the industrial products company’s stock worth $54,690,000 after acquiring an additional 998,464 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Fortune Brands Home & Security by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 993,697 shares of the industrial products company’s stock worth $53,350,000 after acquiring an additional 114,939 shares in the last quarter. 85.38% of the stock is owned by hedge funds and other institutional investors.

FBHS has been the subject of several research analyst reports. ValuEngine cut Fortune Brands Home & Security from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 4th. Loop Capital cut their price objective on Fortune Brands Home & Security to $59.00 and set a “buy” rating for the company in a research report on Thursday, October 25th. Bank of America cut Fortune Brands Home & Security from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $64.00 to $61.00 in a research 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 research report on Tuesday, October 2nd. They issued a “neutral” rating and a $64.00 price objective for the company. Finally, Longbow Research cut Fortune Brands Home & Security from a “buy” rating to a “neutral” rating in a research report on Friday, October 12th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Fortune Brands Home & Security has an average rating of “Hold” and a consensus target price of $61.58.

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In other news, Director Ronald V. Waters sold 5,000 shares of the firm’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $51.31, for a total value of $256,550.00. Following the completion of the transaction, the director now owns 14,142 shares in the company, valued at $725,626.02. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.71% of the company’s stock.

Shares of FBHS stock opened at $44.17 on Wednesday. Fortune Brands Home & Security Inc has a fifty-two week low of $40.89 and a fifty-two week high of $73.62. The firm has a market capitalization of $5.92 billion, a PE ratio of 14.34, a PEG ratio of 1.09 and a beta of 1.22. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.30 and a quick ratio of 0.83.

Fortune Brands Home & Security (NYSE:FBHS) last announced its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.44 billion. As a group, sell-side analysts anticipate that Fortune Brands Home & Security Inc will post 3.42 earnings per share for the current fiscal year.

The company 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Thursday, November 29th. Fortune Brands Home & Security’s dividend payout ratio is currently 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.

See Also: Return on Investment (ROI)

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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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