Nissay Asset Management Corp Japan ADV Increases Stock Position in Fortune Brands Home & Security Inc (NYSE:FBHS)

Nissay Asset Management Corp Japan ADV increased its position in Fortune Brands Home & Security Inc (NYSE:FBHS) by 7.6% in the second quarter, Holdings Channel.com reports. The fund owned 13,849 shares of the industrial products company’s stock after purchasing an additional 983 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Fortune Brands Home & Security were worth $885,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Fortune Brands Home & Security by 3.0% in the 1st quarter. BlackRock Inc. now owns 10,835,409 shares of the industrial products company’s stock worth $468,631,000 after buying an additional 319,935 shares during the period. State Street Corp boosted its holdings in shares of Fortune Brands Home & Security by 1.1% during the 1st quarter. State Street Corp now owns 6,325,813 shares of the industrial products company’s stock valued at $273,591,000 after purchasing an additional 66,150 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Fortune Brands Home & Security by 15.1% during the 1st quarter. Geode Capital Management LLC now owns 2,721,151 shares of the industrial products company’s stock valued at $117,505,000 after purchasing an additional 356,697 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of Fortune Brands Home & Security by 2.8% during the 1st quarter. Eagle Asset Management Inc. now owns 1,710,397 shares of the industrial products company’s stock valued at $73,974,000 after purchasing an additional 47,275 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Fortune Brands Home & Security during the 4th quarter valued at about $94,173,000. Institutional investors own 88.70% of the company’s stock.

Shares of FBHS stock opened at $76.50 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.05 and a quick ratio of 0.97. The company has a market capitalization of $10.55 billion, a P/E ratio of 24.76 and a beta of 1.67. The company’s 50-day simple moving average is $65.15 and its two-hundred day simple moving average is $59.36. Fortune Brands Home & Security Inc has a one year low of $33.90 and a one year high of $78.25.

Fortune Brands Home & Security (NYSE:FBHS) last issued its earnings results on Wednesday, July 29th. The industrial products company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.35. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.29 billion. Fortune Brands Home & Security had a net margin of 7.61% and a return on equity of 21.65%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. On average, research analysts expect that Fortune Brands Home & Security Inc will post 3.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, August 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.25%. Fortune Brands Home & Security’s dividend payout ratio is presently 26.67%.

In other news, VP Danny Luburic sold 2,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $60.18, for a total transaction of $120,360.00. Following the transaction, the vice president now directly owns 9,693 shares in the company, valued at $583,324.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Brian C. Lantz sold 14,745 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $67.74, for a total transaction of $998,826.30. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by company insiders.

FBHS has been the topic of several recent research reports. Nomura upped their target price on shares of Fortune Brands Home & Security from $58.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Nomura Securities upgraded shares of Fortune Brands Home & Security from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $55.00 in a research report on Friday, April 17th. Wells Fargo & Co upped their target price on shares of Fortune Brands Home & Security from $67.00 to $73.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. Robert W. Baird cut shares of Fortune Brands Home & Security from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research report on Thursday, April 16th. Finally, Jefferies Financial Group upped their target price on shares of Fortune Brands Home & Security from $81.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $69.63.

Fortune Brands Home & Security Company 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.

Further Reading: Consumer behavior in bull markets

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

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