Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Fortune Brands Home & Security Inc. shares valued at $120,000 were sold by MACKAY A D DAVID on Sep 14. At $60.00 per share, MACKAY A D DAVID sold 2,000 shares. The insider’s holdings dropped to 6,000 shares worth approximately $0.34 million following the completion of this transaction.
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Also, Thomas Martin sold 4,262 shares, netting a total of over 380,531 in proceeds. Following the sale of shares at $89.28 each, the insider now holds 23,683 shares.
Before that, PHYFER CHERI M had sold 23,715 shares from its account. In a trade valued at $2,398,713, the President, Global Plumbing traded Fortune Brands Home & Security Inc. shares for $101.15 each. Upon closing the transaction, the insider’s holdings decreased to 23,715 shares, worth approximately $1.15 million.
As published in their initiating research note from Deutsche Bank on August 18, 2022, Fortune Brands Home & Security Inc. [FBHS] has been a Buy and the price target has been revised to $100. This represents a 42.7% premium over Wednesday’s closing price. Analysts at KeyBanc Capital Markets upgraded the stock from ‘”a Sector weight”‘ to ‘”an Overweight”‘ outlook in a report released in late April. As of April 29, 2022, BofA Securities has increased its “an Underperform” rating to a “Neutral” for FBHS. Earlier on April 11, 2022, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for FBHS stock which previously was a “a Buy”.
Analyzing FBHS’s Price Performance
On Wednesday, Fortune Brands Home & Security Inc. [NYSE: FBHS] plunged -2.45% to $57.30. The stock’s lowest price that day was $57.265, but it reached a high of $59.85 in the same session. During the last five days, there has been a drop of approximately -4.29%. Over the course of the year, Fortune Brands Home & Security Inc. shares have dropped approximately -46.40%. Shares of the company reached a 52-week high of $108.41 on 01/05/22 and a 52-week low of $56.86 on 06/22/22. A 50-day SMA is recorded $64.94, while a 200-day SMA reached $77.45. Nevertheless, trading volume fell to 1.36 million shares from 0.95 million shares the previous day.
Support And Resistance Levels for Fortune Brands Home & Security Inc. (FBHS)
According to the 24-hour chart, there is a support level at 56.43, which, if violated, would cause prices to drop to 55.55. In the upper region, resistance lies at 59.01. The next price resistance is at 60.72. RSI (Relative Strength Index) is 32.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.21, which suggests the price will decrease in the coming days. Percent R is at 99.61%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Fortune Brands Home & Security Inc. subject to short interest?
Stocks of Fortune Brands Home & Security Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.11 million shares to 2.02 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.91 million shares. A jump of 5.45% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.67 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.67.
Which companies own the most shares of Fortune Brands Home & Security Inc. (FBHS)?
According to The Vanguard Group, Inc. filings, the company currently owns 13,985,963 shares, which is about 10.82% of the total FBHS shares outstanding. The investor’s shares have plunged by -305,917 from its previous 13-F filing of 14291880.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $441,551,776. SSgA Funds Management, Inc. reduced a -3.62% interest valued at $360.23 million while Wellington Management Co. LLP sold a -340,859 stake. A total of -3,529,415 shares of Fortune Brands Home & Security Inc. were sold by Fidelity Management & Research Co during the quarter, and 130,065 were bought by JPMorgan Investment Management, I. In its current portfolio, Pictet Asset Management SA holds 4,175,027 shares valued at $256.47 million.