Gulf International Bank UK Ltd Has $908,000 Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Gulf International Bank UK Ltd lessened its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,153 shares of the company’s stock after selling 200 shares during the period. Gulf International Bank UK Ltd’s holdings in Fortune Brands Innovations were worth $908,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FBIN. Family Firm Inc. acquired a new stake in shares of Fortune Brands Innovations in the 2nd quarter valued at approximately $31,000. LRI Investments LLC acquired a new position in Fortune Brands Innovations during the first quarter worth approximately $34,000. Brown Brothers Harriman & Co. raised its stake in Fortune Brands Innovations by 526.5% in the second 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. Pathway Financial Advisers LLC bought a new position in shares of Fortune Brands Innovations during the 1st quarter worth approximately $51,000. Finally, Rothschild Investment LLC acquired a new position in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $54,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FBIN has been the topic of several research reports. Jefferies Financial Group upped their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI lowered their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday. BMO Capital Markets upped their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. UBS Group reduced their target price on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Loop Capital dropped their price objective on shares of 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. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN opened at $79.06 on Friday. The company’s 50 day simple moving average is $84.99 and its 200 day simple moving average is $76.32. 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, Inc. has a 1 year low of $59.72 and a 1 year high of $90.54. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 2.65 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. Fortune Brands Innovations’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.19 EPS. As a group, research analysts predict that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is 27.04%.

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.