Skandinaviska Enskilda Banken AB publ Has $1.61 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,718 shares of the company’s stock after purchasing an additional 1,500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Fortune Brands Innovations were worth $1,605,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in Fortune Brands Innovations during the 4th quarter valued at $29,000. Family Firm Inc. acquired a new stake in shares of Fortune Brands Innovations in the 2nd quarter valued at $31,000. LRI Investments LLC acquired a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at $34,000. Brown Brothers Harriman & Co. increased its stake in shares of Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after buying an additional 437 shares during the period. Finally, Rise Advisors LLC acquired a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at $38,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FBIN has been the subject of several research reports. Loop Capital lowered their target price on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Friday, July 12th. 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 note on Friday, July 26th. Barclays raised their price target on Fortune Brands Innovations from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group raised their price target on Fortune Brands Innovations from $75.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus target price of $83.20.

Fortune Brands Innovations Stock Performance

Shares of Fortune Brands Innovations stock opened at $87.03 on Tuesday. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.51. The stock’s 50-day moving average is $77.82 and its 200-day moving average is $74.68. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $88.22. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 earnings per share. Equities 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. Shareholders 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 yield of 1.10%. The ex-dividend date was Friday, August 23rd. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.36%.

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.