Sky Investment Group LLC Sells 1,525 Shares of Fortune Brands Home & Security, Inc. (NYSE:FBHS)


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Sky Investment Group LLC lowered its stake in shares of Fortune Brands Home & Security, Inc. (NYSE:FBHS) by 6.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,510 shares of the industrial products company’s stock after selling 1,525 shares during the quarter. Sky Investment Group LLC’s holdings in Fortune Brands Home & Security were worth $1,965,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its holdings in shares of Fortune Brands Home & Security by 0.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 50,648 shares of the industrial products company’s stock valued at $4,342,000 after purchasing an additional 130 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Fortune Brands Home & Security by 9.5% in the fourth quarter. Schroder Investment Management Group now owns 926,326 shares of the industrial products company’s stock valued at $79,404,000 after buying an additional 80,426 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Fortune Brands Home & Security in the fourth quarter valued at approximately $2,109,000. Skandinaviska Enskilda Banken AB publ raised its position in shares of Fortune Brands Home & Security by 71.9% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 48,024 shares of the industrial products company’s stock valued at $4,117,000 after acquiring an additional 20,085 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its position in shares of Fortune Brands Home & Security by 23.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 251,055 shares of the industrial products company’s stock worth $21,520,000 after purchasing an additional 48,252 shares during the last quarter. 86.55% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on FBHS. Zacks Investment Research cut shares of Fortune Brands Home & Security from a “buy” rating to a “hold” rating and set a $89.00 price target on the stock. in a research report on Wednesday, December 30th. BMO Capital Markets initiated coverage on Fortune Brands Home & Security in a research note on Wednesday, January 13th. They issued an “outperform” rating and a $102.00 target price for the company. Wolfe Research initiated coverage on Fortune Brands Home & Security in a research report on Monday, March 22nd. They set an “outperform” rating and a $99.00 price target on the stock. KeyCorp lifted their price target on shares of Fortune Brands Home & Security from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, February 3rd. Finally, Barclays raised their price objective on shares of Fortune Brands Home & Security from $75.00 to $84.00 and gave the stock an “underweight” rating in a report on Wednesday, February 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $90.12.

In related news, insider Cheri M. Phyfer sold 3,348 shares of the firm’s stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $89.60, for a total transaction of $299,980.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.45% of the company’s stock.

Shares of FBHS traded up $0.68 during midday trading on Thursday, reaching $102.67. 2,182 shares of the stock were exchanged, compared to its average volume of 872,559. The company has a quick ratio of 1.23, a current ratio of 1.88 and a debt-to-equity ratio of 0.79. The stock’s 50 day simple moving average is $93.85 and its 200 day simple moving average is $88.29. Fortune Brands Home & Security, Inc. has a twelve month low of $42.45 and a twelve month high of $103.73. The company has a market cap of $14.21 billion, a P/E ratio of 29.06, a PEG ratio of 1.91 and a beta of 1.66.

Fortune Brands Home & Security (NYSE:FBHS) last issued its quarterly earnings results on Monday, February 1st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.08. Fortune Brands Home & Security had a return on equity of 22.37% and a net margin of 8.36%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the business posted $1.00 earnings per share. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, analysts predict that Fortune Brands Home & Security, Inc. will post 4.1 earnings per share for the current year.

About Fortune Brands Home & Security

Fortune Brands Home & Security, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications. It operates in three segments: Plumbing, Outdoors & Security, and Cabinets. The Plumbing segment manufactures, assembles, and sells faucets, accessories, kitchen sinks, and waste disposals in the United States, China, Canada, Mexico, Southeast Asia, Europe, and South America directly through its own sales force, as well as through independent manufacturers' representatives to wholesalers, home centers, mass merchandisers, and industrial distributors.

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

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