Southport Management L.L.C. Buys New Position in Fortune Brands Home & Security Inc (NYSE:FBHS)

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Southport Management L.L.C. bought a new stake in Fortune Brands Home & Security Inc (NYSE:FBHS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,500 shares of the industrial products company’s stock, valued at approximately $1,000,000. Fortune Brands Home & Security makes up about 6.8% of Southport Management L.L.C.’s holdings, making the stock its 7th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of Fortune Brands Home & Security by 9.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,507,936 shares of the industrial products company’s stock valued at $476,103,000 after purchasing an additional 706,944 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in shares of Fortune Brands Home & Security by 37.8% during the 2nd quarter. Pictet Asset Management Ltd. now owns 3,542,182 shares of the industrial products company’s stock valued at $202,365,000 after purchasing an additional 971,613 shares in the last quarter. FMR LLC boosted its position in shares of Fortune Brands Home & Security by 3.8% during the 1st quarter. FMR LLC now owns 3,117,381 shares of the industrial products company’s stock valued at $148,419,000 after purchasing an additional 114,490 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Fortune Brands Home & Security by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 1,920,463 shares of the industrial products company’s stock valued at $72,834,000 after purchasing an additional 131,460 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Fortune Brands Home & Security by 8.7% during the 2nd quarter. Wells Fargo & Company MN now owns 1,786,195 shares of the industrial products company’s stock valued at $102,046,000 after purchasing an additional 142,514 shares in the last quarter. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Shares of FBHS traded down $0.99 during midday trading on Monday, hitting $53.46. The stock had a trading volume of 670,185 shares, compared to its average volume of 787,881. Fortune Brands Home & Security Inc has a fifty-two week low of $35.27 and a fifty-two week high of $58.15. The business has a 50-day simple moving average of $51.85 and a two-hundred day simple moving average of $51.46. The firm has a market cap of $7.59 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.65 and a beta of 1.52. The company has a current ratio of 1.13, a quick ratio of 0.69 and a debt-to-equity ratio of 0.77.

Fortune Brands Home & Security (NYSE:FBHS) last announced its earnings results on Thursday, August 1st. The industrial products company reported $1.03 EPS for the quarter, hitting the consensus estimate of $1.03. Fortune Brands Home & Security had a net margin of 7.22% and a return on equity of 21.81%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the company posted $1.00 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts expect that Fortune Brands Home & Security Inc will post 3.6 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Friday, August 30th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, August 29th. Fortune Brands Home & Security’s payout ratio is 26.35%.

Several research firms have recently weighed in on FBHS. Loop Capital lowered shares of Fortune Brands Home & Security from a “hold” rating to a “sell” rating and set a $50.00 price objective for the company. in a research report on Tuesday, July 2nd. ValuEngine lowered shares of Fortune Brands Home & Security from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. TheStreet upgraded shares of Fortune Brands Home & Security from a “c+” rating to a “b-” rating in a research report on Friday, June 28th. Finally, Zacks Investment Research lowered shares of Fortune Brands Home & Security from a “hold” rating to a “sell” rating and set a $54.00 price objective for the company. in a research report on Monday, August 5th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Fortune Brands Home & Security currently has a consensus rating of “Hold” and a consensus target price of $53.00.

In other news, Director A D. David Mackay sold 10,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $50.40, for a total value of $504,000.00. Following the completion of the sale, the director now directly owns 11,532 shares of the company’s stock, valued at $581,212.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald V. Waters sold 5,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $56.74, for a total transaction of $283,700.00. Following the completion of the sale, the director now directly owns 11,589 shares of the company’s stock, valued at $657,559.86. The disclosure for this sale can be found here. Company insiders own 1.63% of the company’s stock.

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 three segments: Cabinets, Plumbing, and Doors & 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: Cost of Capital

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

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