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

Achmea Investment Management B.V. increased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,125 shares of the company’s stock after buying an additional 3,576 shares during the period. Achmea Investment Management B.V. owned about 0.10% of Fortune Brands Innovations worth $7,866,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Fortune Brands Innovations by 8.9% during the 1st quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock worth $139,000 after buying an additional 134 shares during the last quarter. Choreo LLC lifted its stake in Fortune Brands Innovations by 2.9% during the first quarter. Choreo LLC now owns 5,701 shares of the company’s stock worth $483,000 after purchasing an additional 163 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Fortune Brands Innovations by 2.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock worth $665,000 after purchasing an additional 168 shares during the last quarter. Graypoint LLC boosted its holdings in Fortune Brands Innovations by 5.7% in the second quarter. Graypoint LLC now owns 3,250 shares of the company’s stock worth $211,000 after purchasing an additional 175 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in Fortune Brands Innovations by 10.7% during the second quarter. V Square Quantitative Management LLC now owns 1,848 shares of the company’s stock valued at $120,000 after purchasing an additional 179 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Trading Up 2.2 %

Shares of FBIN stock opened at $81.13 on Friday. The stock has a 50-day simple moving average of $75.15 and a 200 day simple moving average of $74.56. The stock has a market capitalization of $10.15 billion, a P/E ratio of 24.81, a P/E/G ratio of 2.44 and a beta of 1.51. Fortune Brands Innovations, Inc. has a fifty-two week low of $54.10 and a fifty-two week high of $84.92. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. On average, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd were issued a $0.24 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.96 annualized dividend and a dividend yield of 1.18%. Fortune Brands Innovations’s dividend payout ratio is currently 29.36%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FBIN. Royal Bank of Canada lifted their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Truist Financial increased their target price on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. The Goldman Sachs Group boosted their target price on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Loop Capital cut their price target on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.20.

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.