Courier Capital LLC Invests $482,000 in Fortune Brands Home & Security, Inc. (NYSE:FBHS)

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Courier Capital LLC acquired a new position in shares of Fortune Brands Home & Security, Inc. (NYSE:FBHS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,463 shares of the industrial products company’s stock, valued at approximately $482,000.

Other institutional investors have also bought and sold shares of the company. Simon Quick Advisors LLC acquired a new stake in Fortune Brands Home & Security in the 3rd quarter valued at about $28,000. Lloyd Advisory Services LLC. acquired a new stake in Fortune Brands Home & Security in the 3rd quarter valued at about $37,000. First Horizon Advisors Inc. lifted its stake in Fortune Brands Home & Security by 45.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 784 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 245 shares during the last quarter. Community Bank N.A. lifted its stake in Fortune Brands Home & Security by 200.0% in the 3rd quarter. Community Bank N.A. now owns 600 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 400 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in Fortune Brands Home & Security in the 1st quarter valued at about $54,000. Institutional investors own 87.38% of the company’s stock.

In related news, Chairman Christopher J. Klein sold 32,744 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $84.03, for a total transaction of $2,751,478.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.45% of the stock is owned by corporate insiders.

NYSE:FBHS opened at $83.64 on Tuesday. The stock has a fifty day moving average price of $85.92 and a 200-day moving average price of $73.89. The company has a market cap of $11.48 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 2.31 and a beta of 1.78. 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, Inc. has a fifty-two week low of $33.90 and a fifty-two week high of $92.59.

Fortune Brands Home & Security (NYSE:FBHS) last released its earnings results on Wednesday, October 28th. The industrial products company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Research analysts predict that Fortune Brands Home & Security, Inc. will post 4.1 EPS for the current fiscal year.

Fortune Brands Home & Security announced that its Board of Directors has authorized a stock repurchase program on Monday, September 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Friday, November 27th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $0.96 annualized dividend and a dividend yield of 1.15%. Fortune Brands Home & Security’s dividend payout ratio is currently 26.67%.

Several brokerages recently issued reports on FBHS. Deutsche Bank Aktiengesellschaft raised their target price on shares of Fortune Brands Home & Security from $87.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Royal Bank of Canada raised their target price on shares of Fortune Brands Home & Security from $77.00 to $85.00 and gave the company a “sector perform” rating in a research note on Thursday, October 29th. Truist raised their target price on shares of Fortune Brands Home & Security from $85.00 to $94.00 in a research note on Thursday, October 29th. Credit Suisse Group increased their price target on shares of Fortune Brands Home & Security from $70.00 to $83.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, SunTrust Banks increased their price target on shares of Fortune Brands Home & Security from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $76.28.

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

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