Artisan Partners Limited Partnership Lowers stake in Fortune Brands Home & Security Inc (FBHS)

Fortune Brands Home & Security Inc (FBHS) : Artisan Partners Limited Partnership reduced its stake in Fortune Brands Home & Security Inc by 13.67% during the most recent quarter end. The investment management company now holds a total of 7,129,478 shares of Fortune Brands Home & Security Inc which is valued at $455,502,349 after selling 1,129,382 shares in Fortune Brands Home & Security Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Fortune Brands Home & Security Inc makes up approximately 0.92% of Artisan Partners Limited Partnership’s portfolio.

Other Hedge Funds, Including , Engineers Gate Manager Lp sold out all of its stake in FBHS during the most recent quarter. The investment firm sold 6,154 shares of FBHS which is valued $393,179.Sii Investments Incwi boosted its stake in FBHS in the latest quarter, The investment management firm added 94 additional shares and now holds a total of 4,468 shares of Fortune Brands Home & Security Inc which is valued at $285,773. Fortune Brands Home & Security Inc makes up approx 0.02% of Sii Investments Incwi’s portfolio.American Research Management reduced its stake in FBHS by selling 450 shares or 1.9% in the most recent quarter. The Hedge Fund company now holds 23,174 shares of FBHS which is valued at $1,466,219. Fortune Brands Home & Security Inc makes up approx 0.54% of American Research Management’s portfolio.Artemis Investment Management Llp reduced its stake in FBHS by selling 81,816 shares or 63.2% in the most recent quarter. The Hedge Fund company now holds 47,646 shares of FBHS which is valued at $2,942,617. Fortune Brands Home & Security Inc makes up approx 0.08% of Artemis Investment Management Llp’s portfolio.

Fortune Brands Home & Security Inc opened for trading at $62.98 and hit $63.995 on the upside on Tuesday, eventually ending the session at $63.73, with a gain of 1.43% or 0.9 points. The heightened volatility saw the trading volume jump to 11,83,747 shares. Company has a market cap of $9,808 M.

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.

Many Wall Street Analysts have commented on Fortune Brands Home & Security Inc. Company shares were Reiterated by RBC Capital Mkts on Jul 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $65 .Jefferies Initiated Fortune Brands Home & Security Inc on Jul 6, 2016 to “Buy”, Price Target of the shares are set at $67.Topeka Capital Markets Initiated Fortune Brands Home & Security Inc on May 24, 2016 to “Buy”, Price Target of the shares are set at $64.

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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