ASR Vermogensbeheer N.V. bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,812 shares of the company's stock, valued at approximately $293,000.
Several other institutional investors have also added to or reduced their stakes in FBIN. Man Group plc acquired a new position in Fortune Brands Innovations in the fourth quarter valued at approximately $344,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in Fortune Brands Innovations by 8.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 271,928 shares of the company's stock valued at $16,555,000 after buying an additional 20,206 shares during the period. Teacher Retirement System of Texas acquired a new position in Fortune Brands Innovations in the first quarter valued at approximately $1,106,000. Wealth Enhancement Advisory Services LLC lifted its stake in Fortune Brands Innovations by 15.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,537 shares of the company's stock valued at $763,000 after buying an additional 1,660 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Fortune Brands Innovations by 6,418.5% in the first quarter. GAMMA Investing LLC now owns 109,706 shares of the company's stock valued at $6,679,000 after buying an additional 108,023 shares during the period. 87.60% of the stock is currently owned by institutional investors.
Fortune Brands Innovations Stock Up 5.8%
NYSE FBIN traded up $3.34 on Wednesday, reaching $60.61. The company had a trading volume of 2,229,562 shares, compared to its average volume of 2,033,715. The stock has a market capitalization of $7.28 billion, a P/E ratio of 19.06, a P/E/G ratio of 3.78 and a beta of 1.32. The company's fifty day moving average is $53.40 and its 200 day moving average is $57.12. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week 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.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm posted $1.16 EPS. The business's revenue was down 3.0% compared to the same quarter last year. Sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.
Fortune Brands Innovations Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. Fortune Brands Innovations's dividend payout ratio is presently 31.45%.
Analyst Ratings Changes
FBIN has been the topic of several recent analyst reports. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Loop Capital reaffirmed a "hold" rating and set a $61.00 target price (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Barclays upped their target price on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Robert W. Baird lowered their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, UBS Group upped their target price on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.91.
View Our Latest Report on Fortune Brands Innovations
Fortune Brands Innovations Company Profile
(
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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