Fortune Brands Innovations, Inc. (NYSE:FBIN) Stock Position Decreased by Swiss National Bank

Swiss National Bank lowered its holdings in Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 11.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 407,600 shares of the company’s stock after selling 50,900 shares during the quarter. Swiss National Bank owned 0.32% of Fortune Brands Innovations worth $25,336,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $230,000. Keybank National Association OH acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $994,000. Achmea Investment Management B.V. grew its holdings in shares of Fortune Brands Innovations by 148.0% during the 3rd quarter. Achmea Investment Management B.V. now owns 130,914 shares of the company’s stock worth $8,138,000 after purchasing an additional 78,135 shares in the last quarter. CENTRAL TRUST Co acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $221,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $1,130,000. Institutional investors and hedge funds own 87.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FBIN. BMO Capital Markets reissued a “market perform” rating and set a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Truist Financial cut their target price on Fortune Brands Innovations from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. Oppenheimer began coverage on Fortune Brands Innovations in a research report on Friday, January 19th. They set a “market perform” rating for the company. Royal Bank of Canada cut their target price on Fortune Brands Innovations from $74.00 to $63.00 and set a “sector perform” rating for the company in a research report on Thursday, October 26th. Finally, The Goldman Sachs Group raised their target price on Fortune Brands Innovations from $68.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and a consensus target price of $74.33.

Check Out Our Latest Stock Report on Fortune Brands Innovations

Fortune Brands Innovations Trading Up 0.0 %

Shares of FBIN opened at $80.14 on Friday. The stock has a fifty day moving average price of $76.89 and a two-hundred day moving average price of $69.00. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.91 and a current ratio of 1.72. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $80.91. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 1.68 and a beta of 1.58.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.02. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts predict that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 13th. Shareholders of record on Friday, February 23rd will be given a $0.24 dividend. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.96 annualized dividend and a yield of 1.20%. Fortune Brands Innovations’s payout ratio is presently 29.02%.

About Fortune Brands Innovations

(Free Report)

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through two segments: Water Innovations; and Outdoors & Security. The Water Innovations segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, and Shaws brands.

Further Reading

Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

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