Apollon Wealth Management LLC Sells 190 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Apollon Wealth Management LLC reduced its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,005 shares of the company’s stock after selling 190 shares during the period. Apollon Wealth Management LLC’s holdings in Fortune Brands Innovations were worth $538,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Family Firm Inc. purchased a new position in Fortune Brands Innovations during the 2nd quarter worth $31,000. LRI Investments LLC purchased a new stake in shares of Fortune Brands Innovations during the first quarter worth about $34,000. Brown Brothers Harriman & Co. increased its holdings in shares of Fortune Brands Innovations by 526.5% during the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after acquiring an additional 437 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $51,000. Finally, Rothschild Investment LLC acquired a new stake in Fortune Brands Innovations in the 2nd quarter worth approximately $54,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FBIN. Robert W. Baird decreased their price target on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Royal Bank of Canada lifted their price target on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. The Goldman Sachs Group increased their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Truist Financial upped their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets lifted their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $91.36.

Fortune Brands Innovations Stock Down 1.5 %

FBIN opened at $73.95 on Friday. The company has a fifty day moving average of $84.82 and a two-hundred day moving average of $76.40. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.41 and a beta of 1.51. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. Fortune Brands Innovations’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 EPS. On average, research analysts expect that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.30%. Fortune Brands Innovations’s dividend payout ratio (DPR) 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.