Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 55.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 678,121 shares of the company’s stock after selling 858,933 shares during the period. American Century Companies Inc.’s holdings in Fortune Brands Innovations were worth $44,037,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at approximately $91,504,000. Fiduciary Management Inc. WI grew its holdings in Fortune Brands Innovations by 19.4% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,986,070 shares of the company’s stock worth $151,219,000 after buying an additional 322,472 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Fortune Brands Innovations by 276.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 303,379 shares of the company’s stock valued at $25,687,000 after acquiring an additional 222,796 shares during the period. KBC Group NV raised its stake in Fortune Brands Innovations by 2,809.5% during the 4th quarter. KBC Group NV now owns 212,335 shares of the company’s stock valued at $16,167,000 after acquiring an additional 205,037 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in Fortune Brands Innovations by 59.7% during the 2nd quarter. Retirement Systems of Alabama now owns 299,275 shares of the company’s stock worth $19,435,000 after acquiring an additional 111,875 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Up 1.1 %

Shares of Fortune Brands Innovations stock opened at $84.10 on Tuesday. Fortune Brands Innovations, Inc. has a 12-month low of $54.10 and a 12-month high of $84.92. The firm has a market capitalization of $10.52 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 2.50 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 stock’s fifty day moving average is $75.95 and its 200-day moving average is $74.51.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 earnings per share. Equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.14%. The ex-dividend date was Friday, August 23rd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 29.36%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FBIN. The Goldman Sachs Group lifted their price objective on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays upped their price target on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Loop Capital lowered their price objective on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada upped their target price 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. Finally, Truist Financial lifted their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Fortune Brands Innovations currently has a consensus 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.