Texas Permanent School Fund Lowers Position in Fortune Brands Home & Security Inc (NYSE:FBHS)

Texas Permanent School Fund cut its stake in Fortune Brands Home & Security Inc (NYSE:FBHS) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,057 shares of the industrial products company’s stock after selling 919 shares during the quarter. Texas Permanent School Fund’s holdings in Fortune Brands Home & Security were worth $1,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of FBHS. Putnam Investments LLC raised its stake in shares of Fortune Brands Home & Security by 1,568.5% in the second quarter. Putnam Investments LLC now owns 2,772,750 shares of the industrial products company’s stock worth $158,407,000 after purchasing an additional 2,606,572 shares during the last quarter. Holocene Advisors LP increased its position in shares of Fortune Brands Home & Security by 334.3% during the second quarter. Holocene Advisors LP now owns 1,533,278 shares of the industrial products company’s stock valued at $87,596,000 after acquiring an additional 1,180,254 shares during the last quarter. Pictet Asset Management Ltd. increased its position 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 acquiring an additional 971,613 shares during the last quarter. JPMorgan Chase & Co. increased its position 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 acquiring an additional 706,944 shares during the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Fortune Brands Home & Security during the second quarter valued at approximately $32,493,000. 88.46% of the stock is owned by hedge funds and other institutional investors.

FBHS has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on Fortune Brands Home & Security from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Nomura decreased their price target on Fortune Brands Home & Security from $63.00 to $61.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. SunTrust Banks raised Fortune Brands Home & Security from a “hold” rating to a “buy” rating and increased their price target for the company from $58.00 to $75.00 in a research report on Monday, October 28th. ValuEngine downgraded Fortune Brands Home & Security from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Finally, Zacks Investment Research raised Fortune Brands Home & Security from a “sell” rating to a “hold” rating and set a $64.00 price target for the company in a research report on Friday, October 25th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $58.70.

In other news, insider David Randich sold 11,906 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $60.96, for a total value of $725,789.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher J. Klein sold 110,530 shares of Fortune Brands Home & Security stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $62.06, for a total value of $6,859,491.80. Insiders sold 129,936 shares of company stock valued at $8,043,457 over the last three months. Company insiders own 1.63% of the company’s stock.

NYSE:FBHS traded down $0.39 during trading hours on Monday, reaching $61.67. The stock had a trading volume of 663,639 shares, compared to its average volume of 1,398,897. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 1.39. The stock has a 50 day simple moving average of $57.51 and a 200 day simple moving average of $54.14. Fortune Brands Home & Security Inc has a 12-month low of $35.27 and a 12-month high of $62.60. The stock has a market cap of $8.63 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 1.94 and a beta of 1.53.

Fortune Brands Home & Security (NYSE:FBHS) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.02). Fortune Brands Home & Security had a return on equity of 21.55% and a net margin of 7.23%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the business earned $0.93 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts expect that Fortune Brands Home & Security Inc will post 3.57 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 29th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, November 27th. Fortune Brands Home & Security’s dividend payout ratio is currently 26.35%.

Fortune Brands Home & Security Profile

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.

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

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