The Vanguard Group, Inc. recently announced the acquisition of new stake in Fortune Brands Home & Security Inc. (NYSE:FBHS). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.17% to 15.02 million shares with purchase of 0.17 million shares. This fresh investment now brings its stake to 10.75% valued currently at $960.44 million. In addition, BlackRock Fund Advisors raised its holdings by 0.26 million to 7.67 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.06% or 66150.0 shares – to 6.33 million shares.
With over 0.83 million Fortune Brands Home & Security Inc. (FBHS) shares trading Tuesday and a closing price of $66.71 on the day, the dollar volume was approximately $55.21 million. The shares have shown a positive weekly performance of 4.68% and its price on 07/14/20 gained nearly 3.75%. Currently, there are 139.30M common shares owned by the public and among those 137.11M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for FBHS have a consensus price objective of $64.00. The analysts have set the share’s price value over the next 12 months at a high of $78.00 and a low of $45.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Fortune Brands Home & Security Inc. stock is 2.70 for the next 12 months. The average price target is -4.23% below its last price level and a downside to the estimated low will see the stock lose -48.24% over that period. But an upside of 14.47% will see the stock hit the forecast high price target while mean target price for the stock is $64.00.
Insiders at the company have transacted a total of 77 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 40 of these insider trades were purchases, accounting for 457,232 shares. Insider sales of the common stock occurred on 37 occasions, with total insider shares sold totaling 448,029 shares.
The top 3 mutual fund holders in Fortune Brands Home & Security Inc. are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 4.03 million shares of the company’s stock, all valued at over $257.65 million. The company sold 17665.0 shares recently to bring their total holdings to about 2.89% of the shares outstanding. Vanguard Mid Cap Index Fund bought 21868.0 shares to see its total holdings expand to 3.63 million shares valued at over $231.94 million and representing 2.60% of the shares outstanding. Vanguard 500 Index Fund sold 7075.0 shares to bring its total holdings to over 2.84 million shares at a value of $181.5 million. Vanguard 500 Index Fund now owns shares totaling to 2.03% of the shares outstanding.
Shares of Fortune Brands Home & Security Inc. (NYSE: FBHS) opened at $64.18, down -$0.12 from a prior closing price of $64.30. However, the script later closed the day at $66.71, up 3.75%. The company’s stock has a 5-day price change of 4.68% and 44.55% over the past three months. FBHS shares are trading 2.10% year to date (YTD), with the 12-month market performance up to 18.36% higher. It has a 12-month low price of $33.90 and touched a high of $73.28 over the same period. Currently, 0.83 million shares have been traded, compared to an average intraday trading volume of 1.29 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.18%, 10.95%, and 12.35% respectively.
Institutional ownership of Fortune Brands Home & Security Inc. (NYSE: FBHS) shares accounts for 92.00% of the company’s 139.30M shares outstanding. Mutual fund holders own 33.80%, while other institutional holders and individual stakeholders account for 56.79% and 0.88% respectively.
It has a market capitalization of $9.11B and a beta (3y monthly) value of 1.67. The stock’s trailing 12-month PE ratio is 20.60, while the earnings-per-share (ttm) stands at $3.24. The company has a PEG of 8.95 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 1.03. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.38% over the week and 3.78% over the month.
Analysts forecast that Fortune Brands Home & Security Inc. (FBHS) will achieve an EPS of $0.53 for the current quarter, $0.71 for the next quarter and $3.42 for 2021. The lowest estimate earnings-per-share for the quarter is $0.33 while analysts give the company a high EPS estimate of $0.69. Comparatively, EPS for the current quarter was $1.03 a year ago. Earnings per share for the fiscal year are expected to increase by 13.30%, and 16.07% over the next financial year. EPS should shrink at an annualized rate of 2.30% over the next five years, compared to 13.30% over the past 5-year period.
Looking at the support for the FBHS, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Sector Perform rating for the stock in a research note on June 26, 2020, with the firm’s price target at $59. Credit Suisse coverage for the Fortune Brands Home & Security Inc. (FBHS) stock in a research note released on May 28, 2020 offered a Neutral rating with a price target of $64. Nomura was of a view on April 17, 2020 that the stock is Buy, while Robert W. Baird gave the stock Neutral rating on April 16, 2020, issuing a price target of $47. Evercore ISI on their part issued In-line rating on April 02, 2020.