Fortune Brands Innovations, Inc. $FBIN Position Trimmed by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 22.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,100 shares of the company’s stock after selling 7,500 shares during the period. Handelsbanken Fonder AB’s holdings in Fortune Brands Innovations were worth $1,344,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of FBIN. National Pension Service grew its holdings in shares of Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after acquiring an additional 199 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Fortune Brands Innovations by 119.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock worth $28,000 after purchasing an additional 293 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in Fortune Brands Innovations during the 2nd quarter worth about $34,000. Ameritas Advisory Services LLC purchased a new stake in Fortune Brands Innovations during the second quarter valued at about $37,000. Finally, LRI Investments LLC boosted its holdings in shares of Fortune Brands Innovations by 1,142.6% in the second quarter. LRI Investments LLC now owns 758 shares of the company’s stock worth $39,000 after buying an additional 697 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group cut their price target on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Truist Financial reiterated a “hold” rating and set a $60.00 price objective (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Monday. Barclays reduced their target price on Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, Loop Capital reissued a “hold” rating and set a $61.00 price target (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Five research analysts have rated the stock with a Buy rating and six have given a Hold 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 $64.40.

Fortune Brands Innovations Trading Up 4.1%

Fortune Brands Innovations stock opened at $51.62 on Friday. Fortune Brands Innovations, Inc. has a 12 month low of $44.04 and a 12 month high of $80.18. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The stock has a market cap of $6.20 billion, a P/E ratio of 16.23, a P/E/G ratio of 4.37 and a beta of 1.32. The company’s fifty day simple moving average is $50.41 and its 200-day simple moving average is $53.31.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.01). The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.Fortune Brands Innovations’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. As a group, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s payout ratio is currently 37.31%.

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.