Keeley Asset Management Comments on Fortune Brands Home & Security

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Jan 20, 2021

Fortune Brands Home & Security (FBHS, Financial) (FBHS - $85.72 - NYSE) is one of the leading manufacturers of products used in new home construction and repair & remodel with strong market positions in cabinets and plumbing products. Fortune Brands has been a key beneficiary of the pandemic-induced dislocations as consumers shifted spending to home repair and remodel. The company continues to post strong results with double-digit revenue growth and modest profitability improvement. Despite this, the stock struggled in the quarter as sentiment turned sour on Fortune Brands on elevated expectations. Underlying trends remain favorable and management expects sales growth and margin improvement in 2021.

From Keeley Asset Management Corp (Trades, Portfolio)'s Small-Mid Cap Value Fund fourth-quarter 2020 shareholder commentary.

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