Fortune Brands Home & Security (FBHS) Shares Gap Down on Analyst Downgrade

Fortune Brands Home & Security Inc (NYSE:FBHS) gapped down prior to trading on Monday after Barclays lowered their price target on the stock from $71.00 to $70.00. The stock had previously closed at $65.51, but opened at $64.90. Barclays currently has an equal weight rating on the stock. Fortune Brands Home & Security shares last traded at $64.53, with a volume of 1441942 shares traded.

Several other equities research analysts have also weighed in on FBHS. Jefferies Group restated a “buy” rating and issued a $78.00 target price on shares of Fortune Brands Home & Security in a report on Thursday, October 12th. Robert W. Baird restated a “buy” rating and issued a $72.00 target price on shares of Fortune Brands Home & Security in a report on Tuesday, October 24th. Credit Suisse Group boosted their target price on Fortune Brands Home & Security from $72.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Citigroup boosted their target price on Fortune Brands Home & Security from $68.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Finally, JPMorgan Chase & Co. boosted their target price on Fortune Brands Home & Security from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $72.92.

In other news, Director Ronald V. Waters sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $71.50, for a total transaction of $357,500.00. Following the completion of the transaction, the director now directly owns 21,674 shares in the company, valued at $1,549,691. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.61% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. First National Bank of Omaha lifted its holdings in shares of Fortune Brands Home & Security by 35.2% during the fourth quarter. First National Bank of Omaha now owns 202,242 shares of the industrial products company’s stock worth $12,563,000 after buying an additional 52,709 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Fortune Brands Home & Security by 43.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 19,681 shares of the industrial products company’s stock worth $1,347,000 after buying an additional 5,991 shares during the last quarter. Calton & Associates Inc. acquired a new position in shares of Fortune Brands Home & Security during the fourth quarter worth approximately $193,000. BlueSky Wealth Advisors LLC acquired a new position in shares of Fortune Brands Home & Security during the fourth quarter worth approximately $203,000. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of Fortune Brands Home & Security by 3.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 29,986 shares of the industrial products company’s stock worth $2,052,000 after buying an additional 900 shares during the last quarter. Institutional investors own 87.52% of the company’s stock.

The stock has a market capitalization of $9,851.87, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.71 and a beta of 1.33. The company has a quick ratio of 1.13, a current ratio of 1.77 and a debt-to-equity ratio of 0.58.

Fortune Brands Home & Security (NYSE:FBHS) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Fortune Brands Home & Security had a return on equity of 18.73% and a net margin of 8.95%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the company earned $0.71 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. research analysts anticipate that Fortune Brands Home & Security Inc will post 3.63 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, February 22nd. This is a positive change from Fortune Brands Home & Security’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. Fortune Brands Home & Security’s payout ratio is 23.53%.

Fortune Brands Home & Security declared that its Board of Directors has approved a share repurchase program on Monday, December 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are 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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