Riverhead Capital Management LLC Acquires 49,750 Shares of Fortune Brands Home & Security Inc (NYSE:FBHS)

Riverhead Capital Management LLC boosted its holdings in shares of Fortune Brands Home & Security Inc (NYSE:FBHS) by 208.6% during the 1st quarter, HoldingsChannel reports. The fund owned 73,600 shares of the industrial products company’s stock after purchasing an additional 49,750 shares during the period. Riverhead Capital Management LLC’s holdings in Fortune Brands Home & Security were worth $3,504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tower Bridge Advisors boosted its stake in Fortune Brands Home & Security by 53.9% during the fourth quarter. Tower Bridge Advisors now owns 107,955 shares of the industrial products company’s stock worth $4,101,000 after buying an additional 37,803 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Fortune Brands Home & Security by 6.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 48,270 shares of the industrial products company’s stock valued at $1,834,000 after purchasing an additional 3,083 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in shares of Fortune Brands Home & Security in the 1st quarter valued at $248,000. Swiss National Bank boosted its stake in shares of Fortune Brands Home & Security by 1.5% in the 1st quarter. Swiss National Bank now owns 472,900 shares of the industrial products company’s stock valued at $22,515,000 after purchasing an additional 7,100 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its stake in shares of Fortune Brands Home & Security by 6.7% in the 4th quarter. State of Tennessee Treasury Department now owns 95,963 shares of the industrial products company’s stock valued at $3,645,000 after purchasing an additional 6,031 shares in the last quarter. 87.13% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on FBHS. Zacks Investment Research upgraded shares of Fortune Brands Home & Security from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Monday, April 8th. Barclays downgraded shares of Fortune Brands Home & Security from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $45.00 to $44.00 in a research report on Thursday, April 11th. SunTrust Banks upped their price target on shares of Fortune Brands Home & Security to $50.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Royal Bank of Canada upped their price target on shares of Fortune Brands Home & Security to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, ValuEngine raised Fortune Brands Home & Security from a “sell” rating to a “hold” rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.20.

In other Fortune Brands Home & Security news, insider David Randich sold 20,000 shares of Fortune Brands Home & Security stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $53.00, for a total value of $1,060,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian C. Lantz sold 3,055 shares of Fortune Brands Home & Security stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $53.48, for a total value of $163,381.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,247 shares of company stock valued at $1,338,571. Insiders own 1.63% of the company’s stock.

Shares of FBHS traded down $0.12 on Friday, hitting $53.07. The company’s stock had a trading volume of 6,066 shares, compared to its average volume of 1,271,244. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.90 and a current ratio of 1.49. Fortune Brands Home & Security Inc has a fifty-two week low of $35.27 and a fifty-two week high of $58.21. The firm has a market capitalization of $7.26 billion, a PE ratio of 15.89, a P/E/G ratio of 1.54 and a beta of 1.47.

Fortune Brands Home & Security (NYSE:FBHS) last released its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Fortune Brands Home & Security had a return on equity of 22.33% and a net margin of 7.18%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm posted $0.56 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Equities research analysts predict that Fortune Brands Home & Security Inc will post 3.66 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Friday, May 31st will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, May 30th. Fortune Brands Home & Security’s dividend payout ratio (DPR) is currently 26.35%.

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About Fortune Brands Home & Security

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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