Andra AP fonden Sells 26,400 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Andra AP fonden cut its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 30.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,000 shares of the company’s stock after selling 26,400 shares during the quarter. Andra AP fonden’s holdings in Fortune Brands Innovations were worth $3,896,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FBIN. GAMMA Investing LLC grew its stake in shares of Fortune Brands Innovations by 8.9% in 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 in the last quarter. Choreo LLC increased 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 acquiring an additional 163 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position 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 valued at $665,000 after purchasing an additional 168 shares during the period. Graypoint LLC raised its position in Fortune Brands Innovations by 5.7% during the second quarter. Graypoint LLC now owns 3,250 shares of the company’s stock valued at $211,000 after purchasing an additional 175 shares during the period. Finally, V Square Quantitative Management LLC lifted its stake in shares of Fortune Brands Innovations by 10.7% in the 2nd 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. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $79.38 on Thursday. The company has a market cap of $9.93 billion, a P/E ratio of 24.28, a PEG ratio of 2.44 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The stock’s 50-day moving average is $74.79 and its 200 day moving average is $74.52. Fortune Brands Innovations, Inc. has a 1-year low of $54.10 and a 1-year high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $1.07 EPS. Research analysts predict that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 23rd were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, August 23rd. Fortune Brands Innovations’s payout ratio is presently 29.36%.

Analyst Ratings Changes

FBIN has been the topic of several recent research reports. Loop Capital decreased 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. The Goldman Sachs Group increased their price objective on Fortune Brands Innovations from $75.00 to $86.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Truist Financial increased their price target 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. Finally, JPMorgan Chase & Co. lifted their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $83.20.

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.