CIBC Asset Management Inc Decreases Stock Holdings in Fortune Brands Home & Security Inc (NYSE:FBHS)


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CIBC Asset Management Inc lowered its stake in shares of Fortune Brands Home & Security Inc (NYSE:FBHS) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,486 shares of the industrial products company’s stock after selling 320 shares during the quarter. CIBC Asset Management Inc’s holdings in Fortune Brands Home & Security were worth $770,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Westside Investment Management Inc. acquired a new position in shares of Fortune Brands Home & Security during the second quarter valued at about $27,000. Berman Capital Advisors LLC increased its holdings in shares of Fortune Brands Home & Security by 454.7% during the first quarter. Berman Capital Advisors LLC now owns 588 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 482 shares in the last quarter. Bremer Bank National Association acquired a new position in shares of Fortune Brands Home & Security during the first quarter valued at about $32,000. Cornerstone Advisors Inc. increased its holdings in shares of Fortune Brands Home & Security by 47.0% during the first quarter. Cornerstone Advisors Inc. now owns 638 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 204 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new position in shares of Fortune Brands Home & Security during the first quarter valued at about $31,000. Hedge funds and other institutional investors own 88.10% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Loop Capital downgraded shares of Fortune Brands Home & Security from a “hold” rating to a “sell” rating and set a $50.00 price objective on the stock. in a report on Tuesday, July 2nd. Zacks Investment Research downgraded shares of Fortune Brands Home & Security from a “hold” rating to a “sell” rating and set a $54.00 price target on the stock. in a report on Monday, August 5th. Bank of America upgraded shares of Fortune Brands Home & Security from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $64.00 in a report on Monday, May 6th. ValuEngine upgraded shares of Fortune Brands Home & Security from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, TheStreet upgraded shares of Fortune Brands Home & Security from a “c+” rating to a “b-” rating in a report on Friday, June 28th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Fortune Brands Home & Security currently has an average rating of “Hold” and an average price target of $54.30.

In other news, Director A D. David Mackay sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $50.40, for a total transaction of $504,000.00. Following the sale, the director now owns 11,532 shares of the company’s stock, valued at approximately $581,212.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald V. Waters sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $56.74, for a total transaction of $283,700.00. Following the sale, the director now directly owns 11,589 shares in the company, valued at approximately $657,559.86. The disclosure for this sale can be found here. 1.63% of the stock is owned by company insiders.

Shares of NYSE:FBHS opened at $50.23 on Tuesday. Fortune Brands Home & Security Inc has a twelve month low of $35.27 and a twelve month high of $58.15. The company’s 50 day moving average is $53.11 and its 200 day moving average is $51.08. The company has a current ratio of 1.13, a quick ratio of 0.69 and a debt-to-equity ratio of 0.77. The company has a market cap of $6.94 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.59 and a beta of 1.54.

Fortune Brands Home & Security (NYSE:FBHS) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.03 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.03. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. Fortune Brands Home & Security had a net margin of 7.22% and a return on equity of 21.81%. Fortune Brands Home & Security’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. Equities research analysts predict that Fortune Brands Home & Security Inc will post 3.6 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.75%. Fortune Brands Home & Security’s payout ratio is 26.35%.

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.

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

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