California Public Employees Retirement System lifted its holdings in Fortune Brands Home & Security Inc (NYSE:FBHS) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 381,471 shares of the industrial products company’s stock after purchasing an additional 29,242 shares during the period. California Public Employees Retirement System owned about 0.25% of Fortune Brands Home & Security worth $26,108,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of the business. Chicago Partners Investment Group LLC purchased a new stake in Fortune Brands Home & Security in the third quarter valued at approximately $117,000. Cerebellum GP LLC purchased a new stake in shares of Fortune Brands Home & Security during the fourth quarter worth $127,000. Bessemer Group Inc. increased its position in shares of Fortune Brands Home & Security by 1,169.9% during the fourth quarter. Bessemer Group Inc. now owns 1,943 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 1,790 shares during the period. Calton & Associates Inc. purchased a new stake in shares of Fortune Brands Home & Security during the fourth quarter worth $193,000. Finally, BlueSky Wealth Advisors LLC purchased a new stake in shares of Fortune Brands Home & Security during the fourth quarter worth $203,000. Institutional investors own 87.86% of the company’s stock.
Several research firms recently commented on FBHS. Zacks Investment Research raised Fortune Brands Home & Security from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Thursday, January 11th. Loop Capital assumed coverage on shares of Fortune Brands Home & Security in a research note on Thursday, March 1st. They issued a “buy” rating and a $77.00 price objective for the company. Barclays decreased their target price on shares of Fortune Brands Home & Security from $71.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Credit Suisse Group restated an “outperform” rating and issued a $80.00 price objective (up previously from $74.00) on shares of Fortune Brands Home & Security in a research report on Monday, January 22nd. They noted that the move was a valuation call. Finally, Nomura reduced their price objective on shares of Fortune Brands Home & Security from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Fortune Brands Home & Security currently has a consensus rating of “Hold” and a consensus target price of $73.57.
Fortune Brands Home & Security Inc (NYSE:FBHS) traded down $0.88 during trading hours on Wednesday, hitting $61.70. 1,460,000 shares of the company traded hands, compared to its average volume of 2,090,000. Fortune Brands Home & Security Inc has a 1-year low of $59.11 and a 1-year high of $73.62. The firm has a market cap of $9,370.00, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 1.43 and a beta of 1.42. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.77 and a quick ratio of 1.13.
Fortune Brands Home & Security (NYSE:FBHS) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. Fortune Brands Home & Security had a net margin of 8.95% and a return on equity of 18.73%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. equities research analysts forecast that Fortune Brands Home & Security Inc will post 3.63 EPS for the current year.
Fortune Brands Home & Security announced that its Board of Directors has authorized a share repurchase program on Monday, December 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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About Fortune Brands Home & Security
Fortune Brands Home & Security, Inc is a holding company. The Company operates through four segments. The Cabinets segment includes custom, semi-custom and stock cabinetry for the kitchen, bath and other parts of the home under brand names, including Aristokraft, Mid-Continent, Diamond, Kitchen Classics, Kitchen Craft, Schrock, Omega, Homecrest, Thomasville, StarMark and Ultracraft.
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