Wells Fargo & Company Downgrades Fortune Brands Home & Security, Inc. (FBHS) to Market Perform

Wells Fargo & Company cut shares of Fortune Brands Home & Security, Inc. (NYSE:FBHS) from an outperform rating to a market perform rating in a research note released on Wednesday, July 19th, Marketbeat Ratings reports. Wells Fargo & Company currently has $70.00 target price on the industrial products company’s stock.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research upgraded Fortune Brands Home & Security from a sell rating to a hold rating in a report on Wednesday, April 5th. BidaskClub upgraded Fortune Brands Home & Security from a hold rating to a buy rating in a report on Thursday, June 22nd. Jefferies Group LLC reaffirmed a buy rating and set a $76.00 target price on shares of Fortune Brands Home & Security in a research report on Friday, July 14th. Nomura initiated coverage on Fortune Brands Home & Security in a research report on Wednesday, April 12th. They set a neutral rating and a $65.00 target price for the company. Finally, Royal Bank Of Canada boosted their price target on Fortune Brands Home & Security from $68.00 to $75.00 and gave the stock an outperform rating in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $67.73.

Shares of Fortune Brands Home & Security (FBHS) traded up 0.67% during trading on Wednesday, hitting $63.31. 1,002,023 shares of the company’s stock were exchanged. Fortune Brands Home & Security has a 1-year low of $52.05 and a 1-year high of $67.50. The stock’s 50-day moving average price is $65.68 and its 200-day moving average price is $62.09. The stock has a market cap of $9.75 billion, a PE ratio of 22.54 and a beta of 1.39.

Fortune Brands Home & Security (NYSE:FBHS) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.05. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Fortune Brands Home & Security had a return on equity of 18.93% and a net margin of 8.61%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. On average, equities analysts expect that Fortune Brands Home & Security will post $3.10 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Friday, August 25th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.72 annualized dividend and a dividend yield of 1.14%. Fortune Brands Home & Security’s dividend payout ratio is currently 25.35%.

In other news, CEO Christopher J. Klein sold 40,063 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $63.13, for a total value of $2,529,177.19. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider E Lee Wyatt sold 40,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $65.20, for a total value of $2,608,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,265 shares of company stock valued at $12,386,418. Company insiders own 1.61% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. boosted its stake in Fortune Brands Home & Security by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,978 shares of the industrial products company’s stock worth $520,000 after buying an additional 21 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Fortune Brands Home & Security by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,884 shares of the industrial products company’s stock worth $123,000 after buying an additional 23 shares during the period. MUFG Americas Holdings Corp boosted its stake in Fortune Brands Home & Security by 0.7% in the second quarter. MUFG Americas Holdings Corp now owns 5,184 shares of the industrial products company’s stock worth $338,000 after buying an additional 35 shares during the period. State of Alaska Department of Revenue raised its position in Fortune Brands Home & Security by 1.9% in the second quarter. State of Alaska Department of Revenue now owns 2,115 shares of the industrial products company’s stock worth $137,000 after buying an additional 40 shares in the last quarter. Finally, Profund Advisors LLC raised its position in Fortune Brands Home & Security by 1.1% in the second quarter. Profund Advisors LLC now owns 3,880 shares of the industrial products company’s stock worth $253,000 after buying an additional 42 shares in the last quarter. Institutional investors own 85.89% of the company’s stock.

Fortune Brands Home & Security Company Profile

Fortune Brands Home & Security, Inc is a holding company. The Company operates through four segments. The Cabinets segment includes custom, semi-custom and stock cabinetry for the kitchen, bath and other parts of the home under brand names, including Aristokraft, Mid-Continent, Diamond, Kitchen Classics, Kitchen Craft, Schrock, Omega, Homecrest, Thomasville, StarMark and Ultracraft.

Analyst Recommendations for Fortune Brands Home & Security (NYSE:FBHS)

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