Premier Asset Managment Lowers stake in Fortune Brands Home & Security Inc (FBHS)

Fortune Brands Home & Security Inc (FBHS) : Premier Asset Managment reduced its stake in Fortune Brands Home & Security Inc by 2.61% during the most recent quarter end. The investment management company now holds a total of 245,510 shares of Fortune Brands Home & Security Inc which is valued at $13,534,966 after selling 6,575 shares in Fortune Brands Home & Security Inc , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Fortune Brands Home & Security Inc makes up approximately 3.45% of Premier Asset Managment’s portfolio.

Other Hedge Funds, Including , First National Bank Of Omaha reduced its stake in FBHS by selling 3,114 shares or 2.87% in the most recent quarter. The Hedge Fund company now holds 105,308 shares of FBHS which is valued at $5,768,772. Fortune Brands Home & Security Inc makes up approx 0.45% of First National Bank Of Omaha’s portfolio.British Columbia Investment Management Corp boosted its stake in FBHS in the latest quarter, The investment management firm added 33,711 additional shares and now holds a total of 137,770 shares of Fortune Brands Home & Security Inc which is valued at $7,547,041. Fortune Brands Home & Security Inc makes up approx 0.08% of British Columbia Investment Management Corp’s portfolio.Norman Fields Gottscho Capital Management reduced its stake in FBHS by selling 1,000 shares or 9.59% in the most recent quarter. The Hedge Fund company now holds 9,425 shares of FBHS which is valued at $532,324. Fortune Brands Home & Security Inc makes up approx 0.35% of Norman Fields Gottscho Capital Management’s portfolio.

Fortune Brands Home & Security Inc closed down -1.32 points or -2.35% at $54.78 with 13,68,841 shares getting traded on Tuesday. Post opening the session at $55.88, the shares hit an intraday low of $54.61 and an intraday high of $56.11 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Fortune Brands Home & Security Inc reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.73. The company had revenue of $1298.00 million for the quarter, compared to analysts expectations of $1322.54 million. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS.

Investors should note that on Sep 27, 2016, Fortune Brands Home & Security Inc announced a cash dividend of $0.1600. The company’s management has announced Nov 22, 2016 as the ex-dividend date and fixed the record date on Nov 25, 2016. The payable date has been fixed on Dec 14, 2016.

Many Wall Street Analysts have commented on Fortune Brands Home & Security Inc. Fortune Brands Home & Security Inc was Initiated by Wells Fargo to “Outperform” on Sep 29, 2016. BofA/Merrill Initiated Fortune Brands Home & Security Inc on Sep 23, 2016 to “Buy”, Price Target of the shares are set at $70.Citigroup Initiated Fortune Brands Home & Security Inc on Sep 1, 2016 to “Neutral”, Price Target of the shares are set at $65.

Fortune Brands Home & Security Inc. is a holding company. The Company through its subsidiaries engaged in manufacture and sale of home and security products. The Company operates through four business segments: Cabinets Plumbing Doors and Security. The Cabinets segment provides cabinetry as well as vanities for the kitchen bath and other parts of the home through a regional supply chain footprint in North America. The Plumbing segment manufactures or assembles and sells faucets accessories and kitchen sinks in North America and China predominantly under the Moen brand. The Doors segment offers fiberglass and steel entry door systems under the Therma-Tru brand and urethane millwork product lines under the Fypon brand. The Security segment’s products consist of locks safety and security devices manufactured sourced and distributed under the Master Lock brand and fire resistant safes and commercial cabinets manufactured sourced and distributed under the SentrySafe brand.

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