abrdn plc Sells 31,566 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

abrdn plc decreased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 500,477 shares of the company’s stock after selling 31,566 shares during the period. abrdn plc owned about 0.40% of Fortune Brands Innovations worth $44,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FBIN. Select Equity Group L.P. grew 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 last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Fortune Brands Innovations by 12,402.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock worth $21,921,000 after purchasing an additional 334,865 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Fortune Brands Innovations during the second quarter valued at approximately $20,857,000. Robeco Schweiz AG increased its holdings in shares of Fortune Brands Innovations by 26.5% in the second quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock valued at $58,873,000 after purchasing an additional 189,635 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in 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 purchasing an additional 172,435 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Up 0.2 %

Shares of NYSE:FBIN opened at $84.03 on Thursday. The company has a 50 day moving average price of $84.55 and a two-hundred day moving average price of $75.92. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The company has a market capitalization of $10.43 billion, a PE ratio of 23.80, a PEG ratio of 2.76 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 52 week low of $55.47 and a 52 week high of $90.54.

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 given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is currently 27.20%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays increased their price objective on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. BMO Capital Markets lifted their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Loop Capital cut 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 research report on Friday, July 12th. JPMorgan Chase & Co. lifted their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Truist Financial boosted their price target on shares of 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $90.20.

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.