UBS Group AG trimmed its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 31.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 287,881 shares of the company's stock after selling 132,507 shares during the period. UBS Group AG owned approximately 0.24% of Fortune Brands Innovations worth $14,400,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Aquatic Capital Management LLC raised its position in Fortune Brands Innovations by 75.5% during the third quarter. Aquatic Capital Management LLC now owns 95,042 shares of the company's stock valued at $5,074,000 after buying an additional 40,898 shares during the period. Victory Capital Management Inc. raised its position in Fortune Brands Innovations by 169.3% during the third quarter. Victory Capital Management Inc. now owns 840,303 shares of the company's stock valued at $44,864,000 after buying an additional 528,237 shares during the period. Rafferty Asset Management LLC raised its position in Fortune Brands Innovations by 118.3% during the third quarter. Rafferty Asset Management LLC now owns 97,063 shares of the company's stock valued at $5,182,000 after buying an additional 52,598 shares during the period. Thematics Asset Management acquired a new position in Fortune Brands Innovations during the third quarter valued at $12,287,000. Finally, Dimensional Fund Advisors LP raised its position in Fortune Brands Innovations by 10.5% during the third quarter. Dimensional Fund Advisors LP now owns 3,251,082 shares of the company's stock valued at $173,572,000 after buying an additional 309,300 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.
Fortune Brands Innovations Stock Performance
Shares of FBIN stock opened at $35.84 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04. Fortune Brands Innovations, Inc. has a fifty-two week low of $35.12 and a fifty-two week high of $64.84. The stock's 50-day moving average is $40.81 and its two-hundred day moving average is $48.80. The firm has a market cap of $4.28 billion, a P/E ratio of 15.93, a PEG ratio of 2.31 and a beta of 1.40.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The business's revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. Analysts predict that Fortune Brands Innovations, Inc. will post 3.19 earnings per share for the current fiscal year.
Fortune Brands Innovations Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.9%. Fortune Brands Innovations's dividend payout ratio is currently 46.22%.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price target on Fortune Brands Innovations from $56.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, May 8th. The Goldman Sachs Group dropped their target price on Fortune Brands Innovations from $69.00 to $61.00 and set a "buy" rating on the stock in a research report on Tuesday, February 17th. Bank of America dropped their target price on Fortune Brands Innovations from $52.00 to $42.00 and set an "underperform" rating on the stock in a research report on Monday, April 20th. Zelman & Associates lowered Fortune Brands Innovations from an "outperform" rating to a "neutral" rating in a research report on Friday, February 13th. Finally, Zacks Research lowered Fortune Brands Innovations from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Fortune Brands Innovations currently has an average rating of "Hold" and an average price target of $52.33.
Get Our Latest Stock Analysis on Fortune Brands Innovations
Fortune Brands Innovations Company Profile
(
Free Report)
Fortune Brands Innovations NYSE: FBIN, formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.
The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.
See Also
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