ProShare Advisors LLC Sells 253 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

ProShare Advisors LLC decreased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.1% in the second quarter, Holdings Channel reports. The fund owned 5,899 shares of the company’s stock after selling 253 shares during the period. ProShare Advisors LLC’s holdings in Fortune Brands Innovations were worth $383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FBIN. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 134 shares during the last quarter. Choreo LLC lifted its holdings in shares of 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 buying an additional 163 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Fortune Brands Innovations by 2.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock valued at $665,000 after acquiring an additional 168 shares during the period. Summit Trail Advisors LLC grew its stake in shares of Fortune Brands Innovations by 2.4% in the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock worth $474,000 after acquiring an additional 169 shares during the last quarter. Finally, Graypoint LLC increased 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 worth $211,000 after acquiring an additional 175 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Down 1.0 %

FBIN opened at $88.66 on Wednesday. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of 27.11, a PEG 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. The firm’s 50-day simple moving average is $79.66 and its 200-day simple moving average is $74.98. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.04. The firm 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 quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. Equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is currently 29.36%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Royal Bank of Canada boosted their price target 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. Loop Capital cut their price target 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. Truist Financial lifted their price objective on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group upped their target price on Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average 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.