Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Purchased by Achmea Investment Management B.V.

Achmea Investment Management B.V. increased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 28.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,172 shares of the company's stock after purchasing an additional 16,318 shares during the period. Achmea Investment Management B.V. owned 0.06% of Fortune Brands Innovations worth $4,515,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of FBIN. Sanctuary Advisors LLC grew its stake in Fortune Brands Innovations by 6.0% in the 4th quarter. Sanctuary Advisors LLC now owns 5,305 shares of the company's stock worth $389,000 after acquiring an additional 302 shares during the period. Atria Wealth Solutions Inc. grew its stake in Fortune Brands Innovations by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock worth $222,000 after acquiring an additional 156 shares during the period. IFP Advisors Inc grew its stake in Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after acquiring an additional 275 shares during the period. Proficio Capital Partners LLC purchased a new stake in Fortune Brands Innovations in the 4th quarter worth approximately $3,957,000. Finally, Steward Partners Investment Advisory LLC grew its stake in Fortune Brands Innovations by 17.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,105 shares of the company's stock worth $144,000 after acquiring an additional 311 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $51.31 on Friday. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.41 and a quick ratio of 0.72. The firm has a market capitalization of $6.17 billion, a P/E ratio of 15.05, a P/E/G ratio of 2.83 and a beta of 1.38. The company's fifty day moving average price is $52.01 and its two-hundred day moving average price is $60.78.

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

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Tuesday, May 27th were issued a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.95%. Fortune Brands Innovations's dividend payout ratio is currently 29.33%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a research note on Wednesday, May 7th. Barclays lowered their price objective on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Royal Bank Of Canada lowered their price objective on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 7th. Robert W. Baird lowered their price objective on shares of 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They set a "hold" rating and a $70.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average 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.

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