Fortune Brands Home & Security (NYSE:FBHS) Reaches New 1-Year High on Analyst Upgrade

Fortune Brands Home & Security Inc (NYSE:FBHS)’s stock price hit a new 52-week high on Friday after Nomura raised their price target on the stock from $64.00 to $67.00. Nomura currently has a neutral rating on the stock. Fortune Brands Home & Security traded as high as $65.03 and last traded at $64.72, with a volume of 157885 shares changing hands. The stock had previously closed at $63.90.

Other analysts also recently issued reports about the stock. Jefferies Financial Group increased their price objective on shares of Fortune Brands Home & Security from $67.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Royal Bank of Canada raised their price objective on shares of Fortune Brands Home & Security from $61.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Goldman Sachs Group began coverage on shares of Fortune Brands Home & Security in a report on Friday. They issued a “buy” rating and a $74.00 target price for the company. Zacks Investment Research upgraded shares of Fortune Brands Home & Security from a “sell” rating to a “hold” rating and set a $64.00 target price on the stock in a research note on Friday, October 25th. Finally, Deutsche Bank initiated coverage on shares of Fortune Brands Home & Security in a report on Wednesday, November 20th. They set a “buy” rating and a $76.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $64.27.

In related news, VP Danny Luburic sold 7,500 shares of Fortune Brands Home & Security stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $61.09, for a total value of $458,175.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Randich sold 11,906 shares of Fortune Brands Home & Security stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $60.96, for a total value of $725,789.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 262,762 shares of company stock worth $16,496,720. Corporate insiders own 1.63% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of FBHS. Putnam Investments LLC boosted its holdings in shares of Fortune Brands Home & Security by 1,568.5% during the 2nd quarter. Putnam Investments LLC now owns 2,772,750 shares of the industrial products company’s stock valued at $158,407,000 after acquiring an additional 2,606,572 shares during the last quarter. Holocene Advisors LP grew its stake in shares of Fortune Brands Home & Security by 334.3% in the second quarter. Holocene Advisors LP now owns 1,533,278 shares of the industrial products company’s stock worth $87,596,000 after acquiring an additional 1,180,254 shares during the period. Pictet Asset Management Ltd. raised its holdings in shares of Fortune Brands Home & Security by 37.8% during the second 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 during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Fortune Brands Home & Security by 9.1% during the second 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 during the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in shares of Fortune Brands Home & Security during the second quarter valued at approximately $32,493,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

The company has a debt-to-equity ratio of 0.89, a current ratio of 1.39 and a quick ratio of 0.83. The stock’s 50-day moving average is $61.84 and its two-hundred day moving average is $55.52. The company has a market cap of $8.99 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.98 and a beta of 1.53.

Fortune Brands Home & Security (NYSE:FBHS) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. Fortune Brands Home & Security had a return on equity of 21.55% and a net margin of 7.23%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the firm posted $0.93 EPS. On average, analysts predict that Fortune Brands Home & Security Inc will post 3.58 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 29th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.36%. Fortune Brands Home & Security’s dividend payout ratio (DPR) is currently 26.35%.

Fortune Brands Home & Security Company Profile (NYSE:FBHS)

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: What is a Swap?

Receive News & Ratings for Fortune Brands Home & Security Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortune Brands Home & Security and related companies with MarketBeat.com's FREE daily email newsletter.