Ninety One UK Ltd Acquires 119,937 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Ninety One UK Ltd increased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 9.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,325,821 shares of the company's stock after purchasing an additional 119,937 shares during the quarter. Ninety One UK Ltd owned approximately 1.09% of Fortune Brands Innovations worth $80,716,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FBIN. Steward Partners Investment Advisory LLC grew its position in shares of Fortune Brands Innovations by 17.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,105 shares of the company's stock worth $144,000 after purchasing an additional 311 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Fortune Brands Innovations by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company's stock worth $59,094,000 after purchasing an additional 11,722 shares in the last quarter. M&T Bank Corp grew its holdings in Fortune Brands Innovations by 41.9% during the 4th quarter. M&T Bank Corp now owns 23,591 shares of the company's stock valued at $1,612,000 after buying an additional 6,971 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Fortune Brands Innovations during the 4th quarter valued at approximately $3,957,000. Finally, Arizona State Retirement System grew its holdings in Fortune Brands Innovations by 0.6% during the 4th quarter. Arizona State Retirement System now owns 36,048 shares of the company's stock valued at $2,463,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Trading Down 1.6%

Shares of NYSE:FBIN traded down $0.86 during trading on Friday, hitting $53.98. The company had a trading volume of 1,354,088 shares, compared to its average volume of 1,634,666. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 3.03 and a beta of 1.36. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54. The company has a fifty day simple moving average of $52.08 and a two-hundred day simple moving average of $59.57. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.41 and a quick ratio of 0.72.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.66. Fortune Brands Innovations had a return on equity of 20.96% and a net margin of 9.42%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $0.83 EPS. Fortune Brands Innovations's quarterly revenue was down 6.9% compared to the same quarter last year. As a group, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, May 27th. Fortune Brands Innovations's dividend payout ratio is currently 29.33%.

Analysts Set New Price Targets

Several research firms have weighed in on FBIN. Royal Bank Of Canada cut their price target on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a report on Wednesday, May 7th. UBS Group cut their price target on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They set a "hold" rating and a $70.00 price target for the company. Finally, Robert W. Baird cut their price target 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. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $77.17.

Fortune Brands Innovations Profile

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.