Tower Bridge Advisors Reduces Holdings in Fortune Brands Home & Security, Inc. (NYSE:FBHS)

Tower Bridge Advisors trimmed its holdings in shares of Fortune Brands Home & Security, Inc. (NYSE:FBHS) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,102 shares of the industrial products company’s stock after selling 1,034 shares during the period. Tower Bridge Advisors’ holdings in Fortune Brands Home & Security were worth $5,855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Fortune Brands Home & Security in the 4th quarter worth approximately $123,701,000. JPMorgan Chase & Co. grew its stake in Fortune Brands Home & Security by 13.3% in the 1st quarter. JPMorgan Chase & Co. now owns 7,598,159 shares of the industrial products company’s stock worth $728,057,000 after acquiring an additional 892,470 shares during the period. Federated Hermes Inc. grew its stake in Fortune Brands Home & Security by 79.3% in the 4th quarter. Federated Hermes Inc. now owns 1,487,497 shares of the industrial products company’s stock worth $127,508,000 after acquiring an additional 657,978 shares during the period. BlackRock Inc. grew its stake in Fortune Brands Home & Security by 4.5% in the 4th quarter. BlackRock Inc. now owns 10,994,401 shares of the industrial products company’s stock worth $942,442,000 after acquiring an additional 475,963 shares during the period. Finally, FMR LLC grew its stake in Fortune Brands Home & Security by 3.3% in the 4th quarter. FMR LLC now owns 13,029,905 shares of the industrial products company’s stock worth $1,116,924,000 after acquiring an additional 415,924 shares during the period. 86.91% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on FBHS shares. Royal Bank of Canada lifted their price target on shares of Fortune Brands Home & Security from $99.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, April 30th. Truist lifted their price target on shares of Fortune Brands Home & Security from $107.00 to $125.00 in a report on Friday, April 30th. Wolfe Research started coverage on shares of Fortune Brands Home & Security in a report on Monday, March 22nd. They issued an “outperform” rating and a $99.00 price target on the stock. KeyCorp lifted their price target on shares of Fortune Brands Home & Security from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, May 4th. Finally, Truist Securities lifted their price target on shares of Fortune Brands Home & Security from $107.00 to $125.00 and gave the company a “buy” rating in a report on Friday, April 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $100.06.

In other news, Director Ann F. Hackett sold 1,346 shares of the business’s stock in a transaction dated Tuesday, June 1st. The shares were sold at an average price of $104.43, for a total value of $140,562.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Danny Luburic sold 13,230 shares of the business’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $113.72, for a total transaction of $1,504,515.60. The disclosure for this sale can be found here. Insiders sold a total of 32,826 shares of company stock valued at $3,609,873 in the last three months. Insiders own 1.50% of the company’s stock.

FBHS stock traded down $0.24 during trading on Friday, reaching $98.46. The stock had a trading volume of 32,928 shares, compared to its average volume of 849,419. Fortune Brands Home & Security, Inc. has a 1-year low of $56.03 and a 1-year high of $114.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.96 and a quick ratio of 1.16. The firm has a market capitalization of $13.65 billion, a P/E ratio of 22.38 and a beta of 1.65. The company has a fifty day moving average of $103.59.

Fortune Brands Home & Security (NYSE:FBHS) last issued its quarterly earnings data on Wednesday, April 28th. The industrial products company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.32. Fortune Brands Home & Security had a net margin of 9.63% and a return on equity of 24.65%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.64 billion. On average, research analysts expect that Fortune Brands Home & Security, Inc. will post 5.63 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 16th. Stockholders of record on Friday, May 28th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, May 27th. Fortune Brands Home & Security’s payout ratio is currently 24.82%.

Fortune Brands Home & Security Profile

Fortune Brands Home & Security, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications. It operates in three segments: Plumbing, Outdoors & Security, and Cabinets. The Plumbing segment manufactures, assembles, and sells faucets, accessories, kitchen sinks, and waste disposals in the United States, China, Canada, Mexico, Southeast Asia, Europe, and South America directly through its own sales force, as well as through independent manufacturers' representatives to wholesalers, home centers, mass merchandisers, and industrial distributors.

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

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