Calamos Advisors LLC acquired a new position in shares of Fortune Brands Home & Security Inc (NYSE:FBHS) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 63,927 shares of the industrial products company’s stock, valued at approximately $3,432,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Koch Industries Inc. lifted its stake in Fortune Brands Home & Security by 55.3% during the first quarter. Koch Industries Inc. now owns 10,903 shares of the industrial products company’s stock worth $642,000 after purchasing an additional 3,884 shares during the last quarter. Citigroup Inc. lifted its stake in Fortune Brands Home & Security by 6.8% in the first quarter. Citigroup Inc. now owns 297,110 shares of the industrial products company’s stock valued at $17,495,000 after buying an additional 18,792 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in Fortune Brands Home & Security in the fourth quarter valued at $3,261,000. Daiwa Securities Group Inc. lifted its stake in Fortune Brands Home & Security by 40.2% in the first quarter. Daiwa Securities Group Inc. now owns 100,311 shares of the industrial products company’s stock valued at $5,907,000 after buying an additional 28,757 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Fortune Brands Home & Security by 61.2% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,900 shares of the industrial products company’s stock valued at $541,000 after buying an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.
Get Fortune Brands Home & Security alerts:A number of research firms have issued reports on FBHS. Zacks Investment Research cut Fortune Brands Home & Security from a “hold” rating to a “sell” rating in a research note on Friday, April 20th. ValuEngine cut Fortune Brands Home & Security from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Citigroup cut their target price on Fortune Brands Home & Security from $74.00 to $64.00 and set a “neutral” rating on the stock in a research note on Monday, April 30th. Bank of America cut Fortune Brands Home & Security from a “buy” rating to a “neutral” rating and set a $62.00 target price on the stock. in a research note on Monday, May 14th. Finally, Barclays cut their target price on Fortune Brands Home & Security from $70.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, April 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $68.92.
Shares of Fortune Brands Home & Security opened at $56.23 on Friday, according to MarketBeat. The firm has a market cap of $8.28 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.26 and a beta of 1.35. The company has a current ratio of 1.44, a quick ratio of 0.90 and a debt-to-equity ratio of 0.65. Fortune Brands Home & Security Inc has a one year low of $52.63 and a one year high of $73.62.
Fortune Brands Home & Security (NYSE:FBHS) last issued its quarterly earnings results on Thursday, April 26th. The industrial products company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.03). The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.25 billion. Fortune Brands Home & Security had a net margin of 8.79% and a return on equity of 19.01%. Fortune Brands Home & Security’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the business posted $0.53 earnings per share. sell-side analysts anticipate that Fortune Brands Home & Security Inc will post 3.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 19th. Stockholders of record on Friday, August 31st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, August 30th. Fortune Brands Home & Security’s dividend payout ratio (DPR) is 25.97%.
Fortune Brands Home & Security declared that its Board of Directors has approved a share repurchase plan on Monday, April 30th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 1.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
Fortune Brands Home & Security Company 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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