Alpha Omega Wealth Management LLC Takes $1.49 Million Position in Fortune Brands Home & Security, Inc. (NYSE:FBHS)

Financial News Live · Sep 30, 2022 11:52

Alpha Omega Wealth Management LLC bought a new position in shares of Fortune Brands Home & Security, Inc. (NYSE:FBHS – Get Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,835 shares of the industrial products company's stock, valued at approximately $1,487,000.

Several other institutional investors and hedge funds have also bought and sold shares of FBHS. Allworth Financial LP raised its holdings in Fortune Brands Home & Security by 128.1% during the first quarter. Allworth Financial LP now owns 463 shares of the industrial products company's stock worth $34,000 after buying an additional 260 shares during the last quarter. Sargent Bickham Lagudis LLC raised its holdings in shares of Fortune Brands Home & Security by 49.8% in the first quarter. Sargent Bickham Lagudis LLC now owns 478 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 159 shares during the last quarter. CKW Financial Group purchased a new stake in shares of Fortune Brands Home & Security in the first quarter valued at about $37,000. Clearstead Advisors LLC raised its holdings in shares of Fortune Brands Home & Security by 111.6% in the first quarter. Clearstead Advisors LLC now owns 529 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 279 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Fortune Brands Home & Security in the first quarter valued at about $41,000. 85.46% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

FBHS has been the subject of several analyst reports. UBS Group lowered their target price on shares of Fortune Brands Home & Security from $134.00 to $104.00 and set a "buy" rating for the company in a report on Thursday, July 28th. BMO Capital Markets reduced their price target on shares of Fortune Brands Home & Security from $115.00 to $90.00 in a research report on Friday, July 29th. Robert W. Baird increased their price target on shares of Fortune Brands Home & Security to $80.00 in a research report on Monday, July 25th. Wells Fargo & Company reduced their price target on shares of Fortune Brands Home & Security from $76.00 to $66.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 28th. Finally, TheStreet lowered shares of Fortune Brands Home & Security from a "b-" rating to a "c+" rating in a research report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $90.29.

Fortune Brands Home & Security Price Performance

NYSE:FBHS remained flat at $54.53 on Friday. 7,369 shares of the company's stock were exchanged, compared to its average volume of 1,261,193. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.12 and a current ratio of 2.13. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 1.21 and a beta of 1.57. Fortune Brands Home & Security, Inc. has a 12-month low of $53.51 and a 12-month high of $109.23. The company has a 50 day moving average of $63.76 and a two-hundred day moving average of $67.54.

Fortune Brands Home & Security (NYSE:FBHS – Get Rating) last issued its earnings results on Wednesday, July 27th. The industrial products company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.09. Fortune Brands Home & Security had a net margin of 9.41% and a return on equity of 26.19%. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the business earned $1.56 earnings per share. The company's quarterly revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts predict that Fortune Brands Home & Security, Inc. will post 6.42 EPS for the current year.

Fortune Brands Home & Security Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Friday, November 25th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.05%. Fortune Brands Home & Security's dividend payout ratio (DPR) is currently 20.25%.

Insider Activity

In other news, Director A D. David Mackay sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at $360,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is owned by company insiders.

About Fortune Brands Home & Security

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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 under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, and Shaws brands 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.