Korea Investment CORP increased its stake in shares of Fortune Brands Home & Security, Inc. (NYSE:FBHS) by 438.0% during the second quarter, Holdings Channel reports. The fund owned 58,100 shares of the industrial products company’s stock after buying an additional 47,300 shares during the period. Korea Investment CORP’s holdings in Fortune Brands Home & Security were worth $3,790,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. 10 15 Associates Inc. acquired a new stake in shares of Fortune Brands Home & Security during the first quarter valued at $1,475,000. Geode Capital Management LLC raised its stake in shares of Fortune Brands Home & Security by 8.9% in the first quarter. Geode Capital Management LLC now owns 1,503,520 shares of the industrial products company’s stock valued at $91,360,000 after buying an additional 122,830 shares during the period. Swiss National Bank raised its stake in shares of Fortune Brands Home & Security by 28.0% in the first quarter. Swiss National Bank now owns 546,800 shares of the industrial products company’s stock valued at $33,273,000 after buying an additional 119,600 shares during the period. Norinchukin Bank The raised its stake in shares of Fortune Brands Home & Security by 10.7% in the first quarter. Norinchukin Bank The now owns 40,397 shares of the industrial products company’s stock valued at $2,458,000 after buying an additional 3,898 shares during the period. Finally, Sandy Spring Bank raised its stake in shares of Fortune Brands Home & Security by 1.6% in the first quarter. Sandy Spring Bank now owns 25,835 shares of the industrial products company’s stock valued at $1,572,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 85.89% of the company’s stock.

Fortune Brands Home & Security, Inc. (FBHS) opened at 63.31 on Friday. Fortune Brands Home & Security, Inc. has a 52-week low of $52.05 and a 52-week high of $67.50. The firm’s 50-day moving average price is $65.68 and its 200 day moving average price is $62.09. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 22.54 and a beta of 1.39.

Fortune Brands Home & Security (NYSE:FBHS) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.05. Fortune Brands Home & Security had a return on equity of 18.93% and a net margin of 8.61%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company earned $0.82 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that Fortune Brands Home & Security, Inc. will post $3.10 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.72 annualized dividend and a yield of 1.14%. Fortune Brands Home & Security’s dividend payout ratio (DPR) is currently 25.35%.

COPYRIGHT VIOLATION NOTICE: This report was published by Daily Political and is the sole property of of Daily Political. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.dailypolitical.com/2017/08/13/korea-investment-corp-buys-47300-shares-of-fortune-brands-home-security-inc-fbhs.html.

Several equities research analysts have recently weighed in on FBHS shares. BidaskClub raised Fortune Brands Home & Security from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research lowered Fortune Brands Home & Security from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. Jefferies Group LLC reissued a “buy” rating and set a $76.00 target price on shares of Fortune Brands Home & Security in a research report on Friday, July 14th. Royal Bank Of Canada raised their target price on Fortune Brands Home & Security from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. Finally, Credit Suisse Group started coverage on Fortune Brands Home & Security in a research report on Thursday, June 22nd. They set an “outperform” rating and a $72.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. Fortune Brands Home & Security presently has a consensus rating of “Hold” and an average target price of $67.73.

In other Fortune Brands Home & Security news, insider E Lee Wyatt sold 40,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $65.20, for a total transaction of $2,608,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher J. Klein sold 40,063 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $63.13, for a total value of $2,529,177.19. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,265 shares of company stock worth $12,386,418. Corporate insiders own 1.61% of the company’s stock.

About Fortune Brands Home & Security

Fortune Brands Home & Security, Inc is a holding company. The Company operates through four segments. The Cabinets segment includes custom, semi-custom and stock cabinetry for the kitchen, bath and other parts of the home under brand names, including Aristokraft, Mid-Continent, Diamond, Kitchen Classics, Kitchen Craft, Schrock, Omega, Homecrest, Thomasville, StarMark and Ultracraft.

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