Swiss National Bank Has $30.21 Million Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Swiss National Bank cut its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 396,800 shares of the company's stock after selling 10,800 shares during the quarter. Swiss National Bank owned 0.31% of Fortune Brands Innovations worth $30,212,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of Fortune Brands Innovations by 1,439.7% in the third quarter. American Century Companies Inc. now owns 665,475 shares of the company's stock valued at $41,366,000 after purchasing an additional 622,253 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Fortune Brands Innovations by 62.8% in the fourth quarter. Nordea Investment Management AB now owns 1,386,155 shares of the company's stock valued at $105,888,000 after purchasing an additional 534,901 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Fortune Brands Innovations by 110.8% in the third quarter. Royal Bank of Canada now owns 779,237 shares of the company's stock valued at $48,438,000 after purchasing an additional 409,598 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Fortune Brands Innovations by 64.5% in the third quarter. Invesco Ltd. now owns 892,752 shares of the company's stock valued at $55,493,000 after purchasing an additional 350,082 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Fortune Brands Innovations by 28.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,195,313 shares of the company's stock valued at $91,011,000 after purchasing an additional 262,922 shares in the last quarter. 87.60% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the sale, the director now directly owns 2,435 shares of the company's stock, valued at $197,478.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FBIN. Robert W. Baird increased their target price on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday, May 1st. Barclays increased their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, January 31st. Oppenheimer started coverage on Fortune Brands Innovations in a report on Friday, January 19th. They set a "market perform" rating for the company. Evercore ISI cut their price objective on Fortune Brands Innovations from $79.00 to $78.00 and set an "in-line" rating for the company in a report on Wednesday, May 1st. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $79.22.

Fortune Brands Innovations Stock Up 2.5 %

Fortune Brands Innovations stock traded up $1.85 during mid-day trading on Thursday, hitting $75.12. 808,947 shares of the company's stock were exchanged, compared to its average volume of 1,079,709. The stock has a market cap of $9.40 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.02 and a beta of 1.58. The stock has a 50 day moving average of $78.55 and a two-hundred day moving average of $74.72. Fortune Brands Innovations, Inc. has a 1-year low of $54.10 and a 1-year high of $84.92. The company has a current ratio of 2.04, a quick ratio of 1.08 and a debt-to-equity ratio of 1.33.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The firm's revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. As a group, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, May 23rd. Fortune Brands Innovations's dividend payout ratio is currently 29.36%.

Fortune Brands Innovations Company 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.