American Century Companies Inc. lessened its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 7.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 947,462 shares of the company's stock after selling 78,829 shares during the quarter. American Century Companies Inc. owned 0.79% of Fortune Brands Innovations worth $57,682,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. von Borstel & Associates Inc. acquired a new stake in Fortune Brands Innovations during the 1st quarter valued at $26,000. National Pension Service increased its holdings in Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company's stock valued at $28,000 after purchasing an additional 199 shares in the last quarter. CX Institutional acquired a new stake in Fortune Brands Innovations during the 1st quarter valued at $29,000. Raleigh Capital Management Inc. increased its holdings in Fortune Brands Innovations by 28.2% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock valued at $62,000 after purchasing an additional 224 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in Fortune Brands Innovations during the 1st quarter valued at $62,000. 87.60% of the stock is owned by institutional investors and hedge funds.
Fortune Brands Innovations Stock Up 0.3%
NYSE:FBIN opened at $58.85 on Tuesday. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month high of $90.54. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $7.06 billion, a P/E ratio of 18.51, a P/E/G ratio of 4.03 and a beta of 1.32. The stock's fifty day simple moving average is $54.04 and its 200-day simple moving average is $56.63.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $1.16 EPS. The firm's revenue was down 3.0% on a year-over-year basis. Equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.
Fortune Brands Innovations Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is currently 31.45%.
Analyst Ratings Changes
FBIN has been the subject of a number of recent analyst reports. Truist Financial set a $65.00 price target on Fortune Brands Innovations in a report on Wednesday, May 7th. Robert W. Baird lowered their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Barclays lifted their target price on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada raised Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $59.00 to $65.00 in a research note on Friday, August 1st. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $75.91.
Get Our Latest Research Report on FBIN
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 three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.
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