According to Market Folly, which tracks hedge fund disclosures, Bill Ackman and Pershing Square have purchased more Fortune Brands FO in recent days.
According a filing with the SEC, Pershing bought an additional 3,648,512 shares on August 5th, 8th, and 9th.
Ackman, and Pershing Square, were successful in their ability to break up Fortune Brands, having it sell off division in order to unlock shareholder value.
Shares of Fortune Brands are currently trading at $53.71, down 24 cents.
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Posted In: Long IdeasHedge FundsTrading IdeasBill AckmanConsumer DiscretionaryHousewares & SpecialtiesPershing Square
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