Meadow Creek Investment Management LLC Cuts Holdings in Fortune Brands Home & Security Inc (NYSE:FBHS)

Meadow Creek Investment Management LLC trimmed its position in Fortune Brands Home & Security Inc (NYSE:FBHS) by 12.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 79,992 shares of the industrial products company’s stock after selling 11,726 shares during the period. Meadow Creek Investment Management LLC’s holdings in Fortune Brands Home & Security were worth $4,570,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Commonwealth Bank of Australia grew its holdings in shares of Fortune Brands Home & Security by 636.5% in the second quarter. Commonwealth Bank of Australia now owns 1,775 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 1,534 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Fortune Brands Home & Security by 1.2% during the second quarter. Northern Trust Corp now owns 1,654,444 shares of the industrial products company’s stock worth $94,518,000 after purchasing an additional 19,682 shares during the last quarter. Natixis Advisors L.P. lifted its position in Fortune Brands Home & Security by 63.7% during the second quarter. Natixis Advisors L.P. now owns 85,821 shares of the industrial products company’s stock valued at $4,903,000 after purchasing an additional 33,409 shares during the period. Public Employees Retirement System of Ohio lifted its position in Fortune Brands Home & Security by 54.0% during the second quarter. Public Employees Retirement System of Ohio now owns 192,859 shares of the industrial products company’s stock valued at $11,018,000 after purchasing an additional 67,633 shares during the period. Finally, Ancora Advisors LLC boosted its holdings in Fortune Brands Home & Security by 35.8% in the second quarter. Ancora Advisors LLC now owns 31,959 shares of the industrial products company’s stock valued at $1,825,000 after purchasing an additional 8,431 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

NYSE FBHS traded up $0.96 during mid-day trading on Wednesday, reaching $54.48. 329,832 shares of the stock were exchanged, compared to its average volume of 830,677. The business’s 50 day moving average is $51.84 and its 200-day moving average is $51.41. Fortune Brands Home & Security Inc has a 1 year low of $35.27 and a 1 year high of $58.15. The company has a market capitalization of $7.30 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.59 and a beta of 1.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.69 and a current ratio of 1.13.

Fortune Brands Home & Security (NYSE:FBHS) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.03. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Fortune Brands Home & Security had a net margin of 7.22% and a return on equity of 21.81%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.00 earnings per share. Equities analysts predict that Fortune Brands Home & Security Inc will post 3.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Friday, August 30th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, August 29th. Fortune Brands Home & Security’s dividend payout ratio (DPR) is presently 26.35%.

FBHS has been the topic of several analyst reports. ValuEngine downgraded Fortune Brands Home & Security from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Zacks Investment Research cut Fortune Brands Home & Security from a “hold” rating to a “sell” rating and set a $54.00 price objective for the company. in a report on Monday, August 5th. TheStreet upgraded Fortune Brands Home & Security from a “c+” rating to a “b-” rating in a research note on Friday, June 28th. Finally, Loop Capital lowered Fortune Brands Home & Security from a “hold” rating to a “sell” rating and set a $50.00 target price on the stock. in a report on Tuesday, July 2nd. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $53.00.

In other news, Director Ronald V. Waters sold 5,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $56.74, for a total transaction of $283,700.00. Following the transaction, the director now owns 11,589 shares in the company, valued at approximately $657,559.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director A D. David Mackay sold 10,000 shares of Fortune Brands Home & Security stock in a transaction on Monday, August 5th. The shares were sold at an average price of $50.40, for a total transaction of $504,000.00. Following the completion of the sale, the director now directly owns 11,532 shares in the company, valued at approximately $581,212.80. The disclosure for this sale can be found here. 1.63% of the stock is owned by company insiders.

About Fortune Brands Home & Security

Fortune Brands Home & Security, Inc, together with its subsidiaries, provides home and security products for residential home repair, remodeling, new construction, and security applications. It operates in three segments: Cabinets, Plumbing, and Doors & Security. The Cabinets segment manufactures custom, semi-custom, and stock cabinetry, as well as vanities for the kitchen, bath, and other parts of the home directly to kitchen and bath dealers, home centers, wholesalers, and builders in North America.

Recommended Story: Cost of Goods Sold (COGS)

Want to see what other hedge funds are holding FBHS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortune Brands Home & Security Inc (NYSE:FBHS).

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

Receive News & Ratings for Fortune Brands Home & Security Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortune Brands Home & Security and related companies with MarketBeat.com's FREE daily email newsletter.