SG Americas Securities LLC Sells 2,219 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

SG Americas Securities LLC lessened its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 37.6% during the third quarter, HoldingsChannel.com reports. The fund owned 3,676 shares of the company’s stock after selling 2,219 shares during the period. SG Americas Securities LLC’s holdings in Fortune Brands Innovations were worth $329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FBIN. Select Equity Group L.P. increased its holdings in Fortune Brands Innovations by 48.8% during the 2nd quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after acquiring an additional 2,075,673 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of Fortune Brands Innovations by 12,402.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock worth $21,921,000 after buying an additional 334,865 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Fortune Brands Innovations in the 2nd quarter worth $20,857,000. Robeco Schweiz AG increased its holdings in shares of Fortune Brands Innovations by 26.5% in 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. Finally, AQR Capital Management LLC increased its holdings in shares of Fortune Brands Innovations by 71.0% in the 2nd quarter. AQR Capital Management LLC now owns 415,255 shares of the company’s stock worth $26,967,000 after buying an additional 172,435 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FBIN shares. Truist Financial increased 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. The Goldman Sachs Group increased their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Loop Capital reduced their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Finally, Barclays increased their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $88.10.

Fortune Brands Innovations Trading Up 1.3 %

Shares of FBIN opened at $90.01 on Friday. The stock has a market capitalization of $11.26 billion, a P/E ratio of 27.53, a PEG ratio of 2.79 and a beta of 1.51. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The firm has a fifty day simple moving average of $82.92 and a two-hundred day simple moving average of $75.56. 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 announced its quarterly earnings results on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.04. The business had revenue of $1.24 billion during 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 firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 EPS. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current 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 given a dividend of $0.24 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.96 annualized dividend and a yield of 1.07%. Fortune Brands Innovations’s payout ratio is currently 29.36%.

Fortune Brands Innovations Company 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.