MBB Public Markets I LLC Takes Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

MBB Public Markets I LLC bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the second quarter, Holdings Channel.com reports. The firm bought 9,285 shares of the company’s stock, valued at approximately $603,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 worth $21,921,000 after purchasing an additional 334,865 shares during the period. Fiduciary Management Inc. WI grew its holdings in Fortune Brands Innovations by 19.4% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,986,070 shares of the company’s stock worth $151,219,000 after acquiring an additional 322,472 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Fortune Brands Innovations in the second quarter valued at $20,857,000. KBC Group NV raised its position in shares of Fortune Brands Innovations by 2,809.5% during the 4th quarter. KBC Group NV now owns 212,335 shares of the company’s stock worth $16,167,000 after acquiring an additional 205,037 shares in the last quarter. Finally, Robeco Schweiz AG lifted its position in shares of Fortune Brands Innovations by 26.5% during 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. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FBIN has been the subject of several research analyst reports. Loop Capital decreased their price objective on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. The Goldman Sachs Group increased their price target on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays boosted their target price 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. Royal Bank of Canada upped 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. Finally, Truist Financial lifted their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 26th. 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, Fortune Brands Innovations currently has an average rating of “Hold” and a consensus price target of $83.20.

Fortune Brands Innovations Stock Down 1.0 %

NYSE:FBIN opened at $88.66 on Wednesday. The stock has a 50-day simple moving average of $79.66 and a 200 day simple moving average of $74.98. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $90.54. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 2.74 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (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 analysts’ expectations of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $1.07 earnings per share. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.29 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 11th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is currently 29.36%.

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.