Trading Report: The Principal Financial Group Inc. Cuts Stake in Fortune Brands Home & Security Inc. (FBHS)

The Principal Financial Group Inc. Cuts Stake in Fortune Brands Home & Security Inc. (FBHS)

Principal Financial Group Inc. lowered its position in Fortune Brands Home & Security Inc. (NYSE:FBHS) by 53.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 249,591 shares of the company’s stock after selling 287,163 shares during the period. Principal Financial Group Inc. owned about 0.16% of Fortune Brands Home & Security worth $14,469,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Fortune Brands Home & Security by 2.0% in the second quarter. JPMorgan Chase & Co. now owns 8,449,106 shares of the company’s stock worth $489,795,000 after buying an additional 163,774 shares during the last quarter. American Century Companies Inc. raised its position in shares of Fortune Brands Home & Security by 7.1% in the second quarter. American Century Companies Inc. now owns 4,432,532 shares of the company’s stock worth $256,954,000 after buying an additional 293,512 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Fortune Brands Home & Security by 2.5% in the first quarter. Franklin Resources Inc. now owns 1,457,289 shares of the company’s stock worth $81,667,000 after buying an additional 35,690 shares during the last quarter. AGF Investments Inc. raised its position in shares of Fortune Brands Home & Security by 18.6% in the second quarter. AGF Investments Inc. now owns 1,122,767 shares of the company’s stock worth $65,076,000 after buying an additional 176,024 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Fortune Brands Home & Security by 2.0% in the first quarter. Geode Capital Management LLC now owns 952,484 shares of the company’s stock worth $53,345,000 after buying an additional 18,335 shares during the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Fortune Brands Home & Security Inc. (NYSE:FBHS) traded down 3.20% on Friday, hitting $55.70. The stock had a trading volume of 1,735,500 shares. The firm’s 50-day moving average price is $59.88 and its 200-day moving average price is $58.87. The firm has a market cap of $8.57 billion, a P/E ratio of 23.40 and a beta of 1.26. Fortune Brands Home & Security Inc. has a 1-year low of $44.19 and a 1-year high of $64.47.

Fortune Brands Home & Security (NYSE:FBHS) last released its earnings results on Wednesday, July 27th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.09. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.32 billion. Fortune Brands Home & Security had a return on equity of 16.39% and a net margin of 7.73%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. On average, equities research analysts predict that Fortune Brands Home & Security Inc. will post $2.74 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Friday, August 26th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, August 24th. Fortune Brands Home & Security’s dividend payout ratio (DPR) is currently 27.23%.

A number of equities analysts have issued reports on the company. Jefferies Group reaffirmed a “buy” rating on shares of Fortune Brands Home & Security in a research report on Thursday, August 4th. Royal Bank Of Canada upped their target price on Fortune Brands Home & Security from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, July 28th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $70.00 target price (up from $65.00) on shares of Fortune Brands Home & Security in a research report on Thursday, July 28th. Zacks Investment Research lowered Fortune Brands Home & Security from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Fortune Brands Home & Security in a research report on Tuesday, June 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $63.67.

In other Fortune Brands Home & Security news, insider David Randich sold 55,600 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $63.12, for a total value of $3,509,472.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher J. Klein sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $63.55, for a total value of $9,532,500.00. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Fortune Brands Home & Security Company Profile

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