Fortune Brands Home & Security (NYSE:FBHS) Now Covered by BMO Capital Markets

Analysts at BMO Capital Markets initiated coverage on shares of Fortune Brands Home & Security (NYSE:FBHS) in a research note issued on Wednesday, The Fly reports. The firm set an “outperform” rating on the industrial products company’s stock.

A number of other brokerages have also recently issued reports on FBHS. Deutsche Bank Aktiengesellschaft lifted their target price on Fortune Brands Home & Security from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 18th. Royal Bank of Canada raised their target price on Fortune Brands Home & Security from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 29th. Truist raised their target price on Fortune Brands Home & Security from $85.00 to $94.00 in a research report on Thursday, October 29th. UBS Group started coverage on Fortune Brands Home & Security in a research report on Tuesday, December 8th. They issued a “buy” rating and a $105.00 target price for the company. Finally, Barclays raised their target price on Fortune Brands Home & Security from $69.00 to $75.00 and gave the stock an “underweight” rating in a research report on Friday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. Fortune Brands Home & Security currently has a consensus rating of “Hold” and a consensus target price of $82.50.

Shares of FBHS stock traded down $1.56 during mid-day trading on Wednesday, hitting $87.87. 29,802 shares of the stock traded hands, compared to its average volume of 811,623. Fortune Brands Home & Security has a twelve month low of $33.90 and a twelve month high of $92.59. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 1.91 and a beta of 1.65. The company’s 50-day simple moving average is $85.55 and its 200-day simple moving average is $81.63. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.23 and a current ratio of 1.88.

Fortune Brands Home & Security (NYSE:FBHS) last issued its earnings results on Wednesday, October 28th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.13. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Fortune Brands Home & Security had a return on equity of 22.37% and a net margin of 8.36%. Analysts forecast that Fortune Brands Home & Security will post 4.09 earnings per share for the current year.

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

In related news, Chairman Christopher J. Klein sold 108,200 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which is available through this link. Also, Director Ronald V. Waters sold 3,000 shares of the business’s stock in a transaction dated Friday, December 18th. The shares were sold at an average price of $91.00, for a total value of $273,000.00. Following the transaction, the director now owns 11,472 shares in the company, valued at $1,043,952. The disclosure for this sale can be found here. Insiders sold 111,700 shares of company stock worth $8,993,550 over the last quarter. 1.45% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in Fortune Brands Home & Security by 26.3% during the second quarter. FMR LLC now owns 8,628,008 shares of the industrial products company’s stock valued at $551,589,000 after acquiring an additional 1,794,510 shares during the period. State Street Corp raised its stake in Fortune Brands Home & Security by 1.5% during the third quarter. State Street Corp now owns 6,612,733 shares of the industrial products company’s stock worth $572,134,000 after buying an additional 100,903 shares during the last quarter. Artemis Investment Management LLP raised its stake in Fortune Brands Home & Security by 50.5% during the third quarter. Artemis Investment Management LLP now owns 1,122,844 shares of the industrial products company’s stock worth $97,091,000 after buying an additional 376,589 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Fortune Brands Home & Security by 1.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,006,458 shares of the industrial products company’s stock worth $87,078,000 after buying an additional 14,122 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Fortune Brands Home & Security by 5.7% during the third quarter. Federated Hermes Inc. now owns 829,519 shares of the industrial products company’s stock worth $71,769,000 after buying an additional 44,519 shares during the last quarter. Hedge funds and other institutional investors own 78.88% of the company’s stock.

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

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