Fortune Brands Home & Security (NYSE:FBHS) Hits New 1-Year High After Dividend Announcement

Fortune Brands Home & Security Inc (NYSE:FBHS)’s share price reached a new 52-week high on Thursday after the company announced a dividend. The company traded as high as $65.42 and last traded at $65.28, with a volume of 8260 shares trading hands. The stock had previously closed at $65.16.

The newly announced dividend which will be paid on Wednesday, March 18th. Investors of record on Friday, February 28th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, February 27th. This is an increase from Fortune Brands Home & Security’s previous quarterly dividend of $0.22. Fortune Brands Home & Security’s dividend payout ratio (DPR) is 26.35%.

Several research analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of Fortune Brands Home & Security from $67.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Goldman Sachs Group initiated coverage on shares of Fortune Brands Home & Security in a report on Friday, December 6th. They issued a “buy” rating and a $74.00 target price on the stock. Royal Bank of Canada boosted their price objective on shares of Fortune Brands Home & Security from $61.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. ValuEngine downgraded shares of Fortune Brands Home & Security from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Finally, Deutsche Bank initiated coverage on shares of Fortune Brands Home & Security in a report on Wednesday, November 20th. They set a “buy” rating and a $76.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $64.27.

The firm’s fifty day moving average price is $62.69 and its 200-day moving average price is $55.94. The company has a current ratio of 1.39, a quick ratio of 0.83 and a debt-to-equity ratio of 0.89. The company has a market cap of $9.06 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.04 and a beta of 1.53.

Fortune Brands Home & Security (NYSE:FBHS) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.02). Fortune Brands Home & Security had a return on equity of 21.55% and a net margin of 7.23%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, research analysts forecast that Fortune Brands Home & Security Inc will post 3.58 earnings per share for the current fiscal year.

In other news, VP Danny Luburic sold 7,500 shares of Fortune Brands Home & Security stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $61.09, for a total transaction of $458,175.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ann F. Hackett sold 2,387 shares of Fortune Brands Home & Security stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $62.83, for a total transaction of $149,975.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 262,762 shares of company stock worth $16,496,720. 1.63% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Kavar Capital Partners LLC acquired a new position in Fortune Brands Home & Security in the second quarter valued at about $39,000. Pearl River Capital LLC acquired a new position in Fortune Brands Home & Security in the second quarter valued at about $43,000. North Star Investment Management Corp. acquired a new position in Fortune Brands Home & Security in the third quarter valued at about $45,000. FTB Advisors Inc. boosted its position in Fortune Brands Home & Security by 552.0% in the second quarter. FTB Advisors Inc. now owns 815 shares of the industrial products company’s stock valued at $46,000 after buying an additional 690 shares in the last quarter. Finally, Doyle Wealth Management acquired a new position in Fortune Brands Home & Security in the second quarter valued at about $50,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

About Fortune Brands Home & Security (NYSE:FBHS)

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.

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