Fortune Brands Finishes Fiscal 2016 In Line With Our Estimates; Maintaining Fair Value Estimate
Fortune Brands had a strong fiscal 2016, as the narrow-moat home and security products company grew sales by 9% year over year to nearly $5 billion, expanded operating margin at each of its businesses, and increased adjusted EPS 33% to $2.75. We are maintaining our $57 per share fair value estimate, as we have not materially changed our key longer-term valuation assumptions. We continue to believe Fortune Brands will benefit from improving repair and remodel spending, stronger residential constr...Fortune Brands Home & Security is a holding company. Through its subsidiaries, the company provides home and security products. The company's segments are: Cabinets, which manufactures cabinetry and vanities, for the kitchen, bath and other parts of the home; Plumbing, which manufactures or assembles and sells faucets, accessories, kitchen sinks and waste disposals; and Doors and Security, which manufactures and sells fiberglass and steel entry door systems, composite decking and railing, and urethane millwork, as well as manufactures, sources and distributes locks, safety and security devices, and electronic security products and fire resistant safes, security containers and commercial cabinets.
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