Fifth Third Bancorp Increases Stock Position in Fortune Brands Home & Security, Inc. (NYSE:FBHS)

Fifth Third Bancorp increased its position in Fortune Brands Home & Security, Inc. (NYSE:FBHS) by 1,810.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 76,545 shares of the industrial products company’s stock after buying an additional 72,539 shares during the quarter. Fifth Third Bancorp’s holdings in Fortune Brands Home & Security were worth $6,623,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Baird Financial Group Inc. boosted its stake in shares of Fortune Brands Home & Security by 13.3% in the second quarter. Baird Financial Group Inc. now owns 14,223 shares of the industrial products company’s stock valued at $922,000 after purchasing an additional 1,674 shares during the period. DAVENPORT & Co LLC bought a new position in Fortune Brands Home & Security during the 2nd quarter valued at $262,000. Brinker Capital Inc. boosted its stake in Fortune Brands Home & Security by 0.9% during the 2nd quarter. Brinker Capital Inc. now owns 35,988 shares of the industrial products company’s stock valued at $2,301,000 after acquiring an additional 314 shares during the last quarter. State of Michigan Retirement System boosted its stake in Fortune Brands Home & Security by 12.0% during the 2nd quarter. State of Michigan Retirement System now owns 35,691 shares of the industrial products company’s stock valued at $2,282,000 after acquiring an additional 3,827 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Fortune Brands Home & Security by 3.7% during the 3rd quarter. Wells Fargo & Company MN now owns 793,711 shares of the industrial products company’s stock valued at $68,672,000 after acquiring an additional 28,446 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

A number of research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Fortune Brands Home & Security from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday. Truist increased their price objective on shares of Fortune Brands Home & Security from $85.00 to $94.00 in a research note on Thursday, October 29th. Robert W. Baird raised their price target on shares of Fortune Brands Home & Security from $84.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 20th. Royal Bank of Canada boosted their price objective on shares of Fortune Brands Home & Security from $77.00 to $85.00 and gave the company a “sector perform” rating in a research report on Thursday, October 29th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Fortune Brands Home & Security from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $77.83.

Shares of NYSE FBHS opened at $84.46 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.23 and a debt-to-equity ratio of 0.79. The stock has a 50 day simple moving average of $85.79 and a 200-day simple moving average of $74.57. The company has a market cap of $11.73 billion, a PE ratio of 24.06, a P/E/G ratio of 2.31 and a beta of 1.78. Fortune Brands Home & Security, Inc. has a 12-month low of $33.90 and a 12-month high of $92.59.

Fortune Brands Home & Security (NYSE:FBHS) last issued its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.13. Fortune Brands Home & Security had a return on equity of 22.37% and a net margin of 8.36%. Sell-side analysts forecast that Fortune Brands Home & Security, Inc. will post 4.1 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Friday, November 27th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 25th. This represents a $0.96 annualized dividend and a dividend yield of 1.14%. Fortune Brands Home & Security’s dividend payout ratio is presently 26.67%.

Fortune Brands Home & Security announced that its board has authorized a share repurchase program on Monday, September 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

In other news, Chairman Christopher J. Klein sold 108,200 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $80.21, for a total transaction of $8,678,722.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.45% of the company’s stock.

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 under the Diamond, Aristokraft, Mid-Continent, Kitchen Craft, Homecrest, Omega, StarMark, Ultracraft, Kemper, Schrock, Decora, and Mantra brand names.

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

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