Deutsche Bank AG Reduces Stock Holdings in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Deutsche Bank AG reduced its stake in Fortune Brands Innovations by 9.0% during the first quarter, holding approximately 254,845 shares worth $15.5 million.
• Fortune Brands Innovations reported $1.00 EPS for the last quarter, surpassing analysts' expectations of $0.98, with a revenue of $1.20 billion.
• The company declared a quarterly dividend of $0.25 per share, representing an annual yield of 1.7%, to be paid on September 10th.

Deutsche Bank AG lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 9.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 254,845 shares of the company's stock after selling 25,332 shares during the quarter. Deutsche Bank AG owned about 0.21% of Fortune Brands Innovations worth $15,515,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in Fortune Brands Innovations during the 1st quarter valued at approximately $26,000. CX Institutional purchased a new position in Fortune Brands Innovations during the 1st quarter valued at approximately $29,000. Alpine Bank Wealth Management purchased a new position in shares of Fortune Brands Innovations in the 1st quarter worth approximately $62,000. Raleigh Capital Management Inc. boosted its holdings in shares of Fortune Brands Innovations by 28.2% in the 1st quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock worth $62,000 after purchasing an additional 224 shares during the period. Finally, Siemens Fonds Invest GmbH purchased a new position in shares of Fortune Brands Innovations in the 4th quarter worth approximately $76,000. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Up 0.1%

Shares of FBIN traded up $0.08 during trading hours on Monday, hitting $58.77. The company had a trading volume of 863,361 shares, compared to its average volume of 2,020,238. The company has a market capitalization of $7.06 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 4.03 and a beta of 1.32. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54. The company's fifty day moving average price is $53.90 and its two-hundred day moving average price is $56.72.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. As a group, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations's payout ratio is 31.45%.

Analysts Set New Price Targets

A number of brokerages have recently commented on FBIN. Barclays lifted their target price on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Robert W. Baird dropped their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. UBS Group lifted their target price on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Loop Capital restated a "hold" rating and set a $61.00 price objective (up previously from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.91.

About Fortune Brands Innovations

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.