Fortune Brands Home & Security, Inc. (NYSE:FBHS) Short Interest Down 23.8% in May

Fortune Brands Home & Security, Inc. (NYSE:FBHS – Get Rating) was the target of a sharp drop in short interest rates in May. On May 15, there was short interest totaling 1,700,000 shares, down 23.8% from the April 30 total of 2,230,000 shares. About 1.3% of the company’s shares are sold short. Based on an average daily trading volume of 1,670,000 shares, the short interest ratio is currently 1.0 day.

Several research companies have issued reports on FBHS. Zacks Investment Research upgraded shares of Fortune Brands Home & Security from a “sell” rating to a “hold” rating and issued a research note on Monday, May 2nd, issuing a price target of $75.00 for the company fixed. Truist Financial lowered its price target on Fortune Brands Home & Security to $100.00 from $115.00 in a research report on Friday, April 29. Barclays lowered its price target on Fortune Brands Home & Security from $100.00 to $84.00 in a research report on Thursday, March 31. Bank of America downgraded Fortune Brands Home & Security in a report on Friday, April 29. Finally, Goldman Sachs Group lowered its target price on shares of Fortune Brands Home & Security from $132.00 to $100.00 and gave the company in A research report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating on the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target of $95.54.

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A number of institutional investors have recently changed their positions in the business. Clearstead Advisors LLC acquired a new position in Fortune Brands Home & Security valued at approximately $27,000 during the fourth quarter. CVA Family Office LLC increased its stake in Fortune Brands Home & Security by 62.4% in the fourth quarter. CVA Family Office LLC now owns 315 shares of the industrial products company valued at $34,000 after purchasing an additional 121 shares during the period. NEXT Financial Group Inc increased its stake in Fortune Brands Home & Security by 54.4% in the fourth quarter. NEXT Financial Group Inc now owns 440 shares of the industrial products company valued at $47,000 after purchasing an additional 155 shares last quarter. Allworth Financial LP increased its stake in Fortune Brands Home & Security by 128.1% in the first quarter. Allworth Financial LP now owns 463 shares of the industrial products company, valued at $34,000, after purchasing an additional 260 shares last quarter. Finally, during the fourth quarter, Neo Ivy Capital Management acquired a new stake in Fortune Brands Home & Security for approximately $50,000. 88.19% of the shares are currently owned by hedge funds and other institutional investors.

NYSE FBHS opened at $70.45 on Monday. The company has a leverage ratio of 1.16, a quick ratio of 1.20 and a current ratio of 2.18. Fortune Brands Home & Security has a yearly low of $64.46 and a yearly high of $109.23. The company has a 50-day simple moving average of $72.39 and a 200-day simple moving average of $88.21. The company has a market cap of $9.22 billion, a PE ratio of 12.54, a price-to-earnings-to-growth ratio of 1.44 and a beta of 1.54.

Fortune Brands Home & Security (NYSE:FBHS – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The industrial products company reported earnings per share (EPS) of $1.31 for the quarter, beating the consensus estimate of $1.24 by $0.07. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.88 billion. Fortune Brands Home & Security had a return on equity of 26.00% and a net margin of 9.94%. The company’s revenue rose 8.3% year over year. In the same quarter last year, the company posted $1.36 per share. Equity analysts are forecasting that Fortune Brands Home & Security will report earnings per share of 6.38 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Friday, May 27 will receive a dividend of $0.28. The ex-dividend date of this dividend is Thursday May 26th. That equates to an annualized dividend of $1.12 and a dividend yield of 1.59%. Fortune Brands Home & Security’s RTP is currently 19.93%.

Fortune Brands Home & Security announced that its board of directors approved a stock repurchase plan on Wednesday, March 2, allowing the company to repurchase $750.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Company Profile of Fortune Brands Home & Security (get rating)

Fortune Brands Home & Security, Inc offers home and security products for home repair, remodeling, new construction and security applications. It operates through three segments: Sanitary, Outdoor & Safety and Closets. The Plumbing segment manufactures, assembles and sells faucets, accessories, kitchen sinks and waste disposal equipment under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe and Shaws brands in the United States, China, Canada, Mexico and Southeast Asia, Europe and South America directly through its own sales force as well as through independent manufacturer representatives to wholesalers, home centers, wholesalers and industrial distributors.

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