By otakuyassine3@gmail.com 
Barclays PLC reduced its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) by 50.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,531 shares of the company’s stock after selling 135,084 shares during the quarter. Barclays PLC owned about 0.11% of Fortune Brands Innovations worth $11,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of FBIN. FMR LLC boosted its stake in Fortune Brands Innovations by 104.5% during the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after buying an additional 3,024,950 shares during the last quarter. Select Equity Group L.P. raised its holdings in shares of Fortune Brands Innovations by 48.8% during the 2nd quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after acquiring an additional 2,075,673 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Fortune Brands Innovations by 12,402.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock valued at $21,921,000 after acquiring an additional 334,865 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Fortune Brands Innovations in the second quarter valued at $20,857,000. Finally, Robeco Schweiz AG increased its holdings in shares of Fortune Brands Innovations by 26.5% in the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock worth $58,873,000 after buying an additional 189,635 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.
Analyst Ratings Changes
FBIN has been the subject of several recent research reports. The Goldman Sachs Group lifted their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. UBS Group decreased their price target on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Barclays lifted their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Jefferies Financial Group upped their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets boosted their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average target price of $91.36.
Read Our Latest Stock Analysis on Fortune Brands Innovations
Fortune Brands Innovations Stock Down 1.2 %
NYSE:FBIN opened at $74.93 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The company has a 50-day moving average of $81.42 and a 200 day moving average of $77.21. The firm has a market cap of $9.31 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.51 and a beta of 1.47.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The company’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.19 EPS. As a group, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.
Fortune Brands Innovations Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s payout ratio is presently 28.17%.
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.
See Also
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