Universal Beteiligungs und Servicegesellschaft mbH Increases Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Fortune Brands Innovations by 15.4%, bringing its total to approximately $7.27 million worth of shares.
• Fortune Brands Innovations reported $0.66 EPS for the latest quarter, meeting analysts' expectations, though revenue fell short at $1.03 billion.
• The company announced a quarterly dividend of $0.25 per share, with a dividend yield of 1.77%, indicating a 29.33% payout ratio.

Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,466 shares of the company's stock after acquiring an additional 15,922 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.10% of Fortune Brands Innovations worth $7,273,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in FBIN. Sei Investments Co. increased its holdings in Fortune Brands Innovations by 26.9% during the fourth quarter. Sei Investments Co. now owns 80,391 shares of the company's stock worth $5,491,000 after buying an additional 17,041 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Fortune Brands Innovations by 8.4% in the 4th quarter. LPL Financial LLC now owns 49,978 shares of the company's stock valued at $3,415,000 after purchasing an additional 3,875 shares in the last quarter. Vanguard Group Inc. increased its position in Fortune Brands Innovations by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company's stock valued at $821,840,000 after purchasing an additional 68,404 shares during the period. Korea Investment CORP increased its position in Fortune Brands Innovations by 37.1% during the 4th quarter. Korea Investment CORP now owns 56,526 shares of the company's stock valued at $3,862,000 after purchasing an additional 15,300 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Fortune Brands Innovations by 2.6% in the 4th quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company's stock worth $303,792,000 after buying an additional 114,391 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Barclays upped their target price on shares of Fortune Brands Innovations from $64.00 to $67.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. 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 target price on the stock. Robert W. Baird lowered their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, UBS Group decreased their target price on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $77.27.

Fortune Brands Innovations Trading Down 0.9%

Fortune Brands Innovations stock traded down $0.54 during midday trading on Tuesday, reaching $55.90. 1,064,583 shares of the stock traded hands, compared to its average volume of 2,004,050. The company has a 50-day simple moving average of $52.27 and a two-hundred day simple moving average of $58.35. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month high of $90.54. The firm has a market cap of $6.72 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 3.35 and a beta of 1.36. The company has a current ratio of 1.41, a quick ratio of 0.72 and a debt-to-equity ratio of 1.06.

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 (EPS) for the quarter, meeting 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 company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $0.83 EPS. Fortune Brands Innovations's revenue for the quarter was down 6.9% compared to the same quarter last year. Research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.79%. Fortune Brands Innovations's dividend payout ratio is presently 29.33%.

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.