Nuveen Asset Management LLC reduced its position in Fortune Brands Home & Security, Inc. (NYSE:FBHS) by 20.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,550 shares of the industrial products company’s stock after selling 1,463 shares during the period. Nuveen Asset Management LLC’s holdings in Fortune Brands Home & Security were worth $338,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Welch Group LLC purchased a new stake in shares of Fortune Brands Home & Security during the first quarter valued at approximately $112,000. State of Alaska Department of Revenue purchased a new stake in shares of Fortune Brands Home & Security during the first quarter valued at approximately $126,000. Global X Management Co. LLC increased its stake in shares of Fortune Brands Home & Security by 28.7% in the first quarter. Global X Management Co. LLC now owns 2,106 shares of the industrial products company’s stock valued at $128,000 after buying an additional 470 shares during the period. Salem Investment Counselors Inc. increased its stake in shares of Fortune Brands Home & Security by 3.5% in the first quarter. Salem Investment Counselors Inc. now owns 2,454 shares of the industrial products company’s stock valued at $148,000 after buying an additional 83 shares during the period. Finally, NN Investment Partners Holdings N.V. increased its stake in shares of Fortune Brands Home & Security by 205.6% in the first quarter. NN Investment Partners Holdings N.V. now owns 2,750 shares of the industrial products company’s stock valued at $168,000 after buying an additional 1,850 shares during the period. 85.73% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fortune Brands Home & Security, Inc. (FBHS) traded down 0.29% during mid-day trading on Wednesday, hitting $65.97. 368,254 shares of the stock were exchanged. The stock’s 50 day moving average is $65.79 and its 200-day moving average is $61.68. The stock has a market cap of $10.15 billion, a PE ratio of 24.08 and a beta of 1.39. Fortune Brands Home & Security, Inc. has a 12 month low of $52.05 and a 12 month high of $67.50.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.09%. Fortune Brands Home & Security’s payout ratio is 26.28%.
Several analysts recently commented on FBHS shares. Zacks Investment Research raised shares of Fortune Brands Home & Security from a “sell” rating to a “hold” rating in a research report on Wednesday, April 5th. Longbow Research raised shares of Fortune Brands Home & Security from a “neutral” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Thursday, April 6th. Nomura started coverage on shares of Fortune Brands Home & Security in a research report on Wednesday, April 12th. They set a “neutral” rating and a $65.00 price objective on the stock. Jefferies Group LLC reissued a “buy” rating on shares of Fortune Brands Home & Security in a research report on Thursday, April 13th. Finally, Instinet reissued a “hold” rating on shares of Fortune Brands Home & Security in a research report on Friday, April 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $67.73.
In related news, CEO Christopher J. Klein sold 40,063 shares of the company’s stock in a transaction that occurred 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 document filed with the SEC, which is available at this link. Also, CFO E Lee Wyatt sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $63.48, for a total value of $2,539,200.00. The disclosure for this sale can be found here. Insiders have sold 156,965 shares of company stock worth $10,011,518 in the last 90 days. Insiders own 1.61% of the company’s stock.
About Fortune Brands Home & Security
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.
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