Achmea Investment Management B.V. Raises Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Achmea Investment Management B.V. increased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 28.2% during the 1st quarter, according to its most recent Form 13F filing with the 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 approximately 0.06% of Fortune Brands Innovations worth $4,515,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. CX Institutional purchased a new position in shares of Fortune Brands Innovations in the 1st quarter worth $29,000. Flagship Wealth Advisors LLC bought a new position in shares of Fortune Brands Innovations in the 4th quarter valued at about $31,000. IFP Advisors Inc grew its position in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after acquiring an additional 275 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in Fortune Brands Innovations in the first quarter worth about $62,000. Finally, Siemens Fonds Invest GmbH bought a new stake in Fortune Brands Innovations during the fourth quarter worth approximately $76,000. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Trading Up 1.2%

Fortune Brands Innovations stock traded up $0.64 during trading hours on Wednesday, hitting $54.04. The company had a trading volume of 1,305,962 shares, compared to its average volume of 1,610,502. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.72 and a current ratio of 1.41. The firm has a market cap of $6.50 billion, a P/E ratio of 15.88, a P/E/G ratio of 2.84 and a beta of 1.37. The company has a 50-day moving average price of $52.08 and a two-hundred day moving average price of $60.45. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $90.54.

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

Fortune Brands Innovations Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FBIN shares. Royal Bank Of Canada lowered their price objective on 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 target on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft started 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. Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a research note on Wednesday, May 7th. Finally, Wall Street Zen raised shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Fortune Brands Innovations presently has a consensus rating of "Hold" and an average price target of $77.17.

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.