Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Purchased by APG Asset Management N.V.

APG Asset Management N.V. boosted its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 539,712 shares of the company’s stock after acquiring an additional 9,145 shares during the quarter. APG Asset Management N.V.’s holdings in Fortune Brands Innovations were worth $32,702,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FBIN. GAMMA Investing LLC boosted its stake in shares of Fortune Brands Innovations by 8.9% in the first quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock valued at $139,000 after purchasing an additional 134 shares during the period. Choreo LLC boosted its position in Fortune Brands Innovations by 2.9% in the 1st quarter. Choreo LLC now owns 5,701 shares of the company’s stock valued at $483,000 after buying an additional 163 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Fortune Brands Innovations by 2.2% during 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 in the last quarter. Summit Trail Advisors LLC increased its position in shares of Fortune Brands Innovations by 2.4% during 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 lifted its stake in shares of Fortune Brands Innovations by 5.7% in the second quarter. Graypoint LLC now owns 3,250 shares of the company’s stock worth $211,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $88.60 on Friday. The company has a market cap of $11.08 billion, a P/E ratio of 27.09, a PEG ratio of 2.74 and a beta of 1.51. The business has a 50 day moving average of $78.95 and a two-hundred day moving average of $74.94. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week high of $89.57. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.08%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.36%.

Analyst Ratings Changes

Several research firms have issued reports on FBIN. Royal Bank of Canada lifted their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Loop Capital cut their price target 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. JPMorgan Chase & Co. raised their price objective 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. The Goldman Sachs Group upped their target price 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. Finally, Truist Financial lifted their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.