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

Fortune Brands Home & Security Inc (NYSE:FBHS)’s share price reached 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 traded. The stock had previously closed at $63.90.

Several other research analysts have also commented on FBHS. Goldman Sachs Group assumed coverage on Fortune Brands Home & Security in a report on Friday. They set a “buy” rating and a $74.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of Fortune Brands Home & Security from $61.00 to $67.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Zelman & Associates downgraded shares of Fortune Brands Home & Security from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Deutsche Bank initiated coverage on shares of Fortune Brands Home & Security in a research report on Wednesday, November 20th. They set a “buy” rating and a $76.00 target price for the company. Finally, SunTrust Banks raised shares of Fortune Brands Home & Security from a “hold” rating to a “buy” rating and boosted their price target for the stock from $58.00 to $75.00 in a research note on Monday, October 28th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $64.27.

In other Fortune Brands Home & Security news, VP Danny Luburic sold 7,500 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $61.09, for a total transaction of $458,175.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David Randich sold 11,906 shares of Fortune Brands Home & Security stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $60.96, for a total transaction of $725,789.76. The disclosure for this sale can be found here. Insiders sold a total of 262,762 shares of company stock valued at $16,496,720 over the last quarter. Company insiders own 1.63% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Putnam Investments LLC raised its position in Fortune Brands Home & Security by 1,568.5% in the 2nd 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 period. Holocene Advisors LP grew its stake 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 buying an additional 1,180,254 shares during the last quarter. Pictet Asset Management Ltd. increased its holdings in shares of Fortune Brands Home & Security by 37.8% in the second quarter. Pictet Asset Management Ltd. now owns 3,542,182 shares of the industrial products company’s stock worth $202,365,000 after buying an additional 971,613 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Fortune Brands Home & Security by 9.1% in the second quarter. JPMorgan Chase & Co. now owns 8,507,936 shares of the industrial products company’s stock worth $476,103,000 after buying an additional 706,944 shares during the period. Finally, Nuveen Asset Management LLC bought a new stake in shares of Fortune Brands Home & Security in the 2nd quarter valued at about $32,493,000. 86.50% of the stock is owned by institutional investors.

The company has a market cap of $8.99 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 1.98 and a beta of 1.53. The business has a 50 day moving average price of $61.84 and a two-hundred day moving average price of $55.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 1.39.

Fortune Brands Home & Security (NYSE:FBHS) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.95 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 company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the firm earned $0.93 earnings per share. Fortune Brands Home & Security’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, research analysts expect that Fortune Brands Home & Security Inc will post 3.58 EPS for the current year.

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

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