Gateway Investment Advisers LLC Purchases 24,600 Shares of Fortune Brands Home & Security, Inc. (NYSE:FBHS)

Gateway Investment Advisers LLC increased its position in Fortune Brands Home & Security, Inc. (NYSE:FBHS – Get Rating) by 880.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 27,394 shares of the industrial products company after purchasing an additional 24,600 shares during the period. Gateway Investment Advisers LLC’s holdings in Fortune Brands Home & Security were worth $2,035,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have recently added to or reduced their holdings in the stock. Signaturefd LLC increased its position in shares of Fortune Brands Home & Security by 21.0% during the fourth quarter. Signaturefd LLC now owns 646 shares of the industrial products company, valued at $69,000, after purchasing an additional 112 shares last quarter. CVA Family Office LLC increased its position in shares of Fortune Brands Home & Security by 62.4% during 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 last quarter. Northwestern Mutual Wealth Management Co. increased its position in Fortune Brands Home & Security by 3.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,723 shares of the industrial products company, valued at $398,000, after buying another 123 shares last quarter. Raymond James Financial Services Advisors Inc. increased its position in Fortune Brands Home & Security by 0.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 18,316 shares of the industrial products company, valued at $1,958,000, after purchasing an additional 135 shares last quarter. Finally, Garrett Investment Advisors LLC increased its position in shares of Fortune Brands Home & Security by 5.0% during the fourth quarter. Garrett Investment Advisors LLC now owns 3,189 shares of the industrial products company, valued at $341,000, after purchasing an additional 151 shares last quarter. Institutional investors and hedge funds own 88.19% of the company’s shares.

A number of research companies have issued reports on FBHD. Truist Financial lowered its target price on Fortune Brands Home & Security to $100.00 from $115.00 in a report on Friday, April 29. JPMorgan Chase & Co. lowered its target price on Fortune Brands Home & Security to $81.00 from $94.00 and rated the company in a report Wednesday, March 20. StockNews.com started Thursday, March 31, to rate the company coverage of Fortune Brands Home & Security in one report. They give the company a “hold” rating. Bank of America upgraded Fortune Brands Home & Security to a neutral rating from an underperform rating and raised its price target on the stock to $84.00 from $74.00 in a report on Friday, March 29 . April. Finally, Jefferies Financial Group lowered Fortune Brands Home & Security from a “buy” rating to a “hold” rating and lowered its price target on the stock to 95 from $120.00 in a report Monday, March 21 $.00. One research analyst has rated the company’s stock with a sell rating, six with a hold rating and five with a buy rating. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $96.33.

Fortune Brands Home & Security stock opened at $63.24 on Friday. Fortune Brands Home & Security, Inc. has a yearly low of $56.86 and a yearly high of $109.23. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 11.25, a price-to-earnings ratio of 1.84 and a beta of 1.54. The company has a 50-day moving average of $68.20 and a 200-day moving average of $82.70. The company has a gearing ratio of 1.16, a current ratio of 2.18 and a quick ratio of 1.20.

Fortune Brands Home & Security (NYSE:FBHS – Get Rating) last announced its 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. Fortune Brands Home & Security had a net margin of 9.94% and a return on equity of 26.00%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.88 billion. In the same period last year, the company posted $1.36 per share. Fortune Brands Home & Security revenue increased 8.3% year over year. As a group, sell-side analysts expect Fortune Brands Home & Security, Inc. to report year-to-date earnings per share of 6.36.

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

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record were paid a dividend of $0.28 on Friday May 27th. The ex-dividend date of this dividend was Thursday May 26th. That equates to an annualized dividend of $1.12 and a yield of 1.77%. Fortune Brands Home & Security’s dividend payout ratio (DPR) is currently 19.93%.

About Fortune Brands Home & Security (received 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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Want to see what other hedge funds are holding FBHS? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Fortune Brands Home & Security, Inc. (NYSE:FBHS – Get Rating).

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

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