FORTUNE BRANDS HOME & SEC INC (DE) Stock Price, News & Analysis

Fortune Brands Home & Security (NYSE: FBHS) is set to release its fourth quarter and full-year 2020 financial results on February 2, 2021, after market close. A conference call featuring CEO Nicholas Fink, CFO Patrick Hallinan, and SVP Brian Lantz will take place at 4:30 p.m. ET to discuss the results. The call can be accessed via a live internet audio webcast on the company's website with a replay available shortly after the call concludes. FBHS operates in segments like Plumbing and Cabinets and holds a market leadership position across its trusted brands.

Moen has launched a pioneering smart water network aimed at enhancing convenience and security in home water management. Highlighted at CES 2021, the network includes innovative products like the U by Moen Smart Faucet for touchless kitchen usability and the Flo by Moen Smart Water Security System, which monitors for water leaks and risks. These products aim to simplify water management for homeowners, reducing potential water damage. Moen's initiatives underscore its role in the smart home revolution, reinforcing its market position within Fortune Brands Home & Security (FBHS).

Fortune Brands Home & Security (NYSE: FBHS) has appointed Susan Saltzbart Kilsby as the new non-executive chair, effective January 1, 2021. Kilsby, an independent director since 2015, previously held significant roles in investment banking and has served as chair of Shire plc. The transition follows Christopher Klein's retirement as executive chairman, part of a multi-year leadership transition plan. Kilsby’s appointment aims to enhance Board diversity and leverage her extensive market understanding, ensuring strong leadership continuity.

Fiberon has announced the launch of the 2021 Fiberon Virtual Experience, set to begin in February. This immersive platform is designed to showcase both new and existing products while providing an interactive learning environment featuring modules on decking, railing, cladding, and lighting. Chris Hayn, Fiberon’s VP of Sales, emphasized the importance of safely engaging with media and customers through this innovative digital setting, which will include educational materials, videos, selling tools, and live Q&A sessions.

Fortune Brands Home & Security (NYSE: FBHS) has successfully acquired LARSON Manufacturing, the leading North American brand of storm, screen, and security doors, for approximately $660 million. This acquisition, completed using cash and borrowings, adds LARSON's $390 million revenue portfolio to Fortune Brands' Outdoors & Security segment. LARSON, based in Brookings, SD, boasts 1,200 associates and multiple manufacturing locations across the U.S. The existing management and workforce will remain intact post-acquisition.

Fortune Brands Home & Security, Inc. (NYSE: FBHS) announced the election of Jeffery Perry to its Board of Directors, effective December 8, 2020. Perry, with a 30-year career spanning strategic, operational, and financial roles, is expected to enhance the Board's effectiveness. His experience in mergers, acquisitions, and business transformations is poised to drive shareholder value. Additionally, his commitment to diversity and inclusion aligns with the company's initiatives. Fortune Brands operates in plumbing, cabinets, and outdoor security segments, holding strong market positions across its brands.

Fortune Brands Home & Security (NYSE: FBHS) has declared a quarterly cash dividend of $0.26 per share, effective March 17, 2021, for stockholders of record by February 26, 2021. This 8% increase from the previous $0.24 reflects the Board's confidence in the company's long-term cash flow and growth strategy, which includes investing in businesses and accretive acquisitions. This marks the eighth consecutive year of dividend increases, underscoring the company's strong execution and commitment to enhancing shareholder value.

Fortune Brands Home & Security (FBHS) has signed an agreement to acquire LARSON Manufacturing for approximately $660 million, aiming to enhance its position in the outdoor living sector. LARSON, a leader in the U.S. storm door market, reported revenues of $390 million, leveraging DIY products that cater to the repair and remodeling market. The acquisition is expected to be accretive, adding $0.14 to $0.20 to FBHS's 2021 earnings per share. Regulatory approval is pending, with the closing anticipated within 30 days. This strategy aligns with FBHS's growth focus in the outdoor living segment.