US Bancorp DE Sells 518 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

US Bancorp DE lessened its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,257 shares of the company’s stock after selling 518 shares during the period. US Bancorp DE’s holdings in Fortune Brands Innovations were worth $2,440,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FBIN. Select Equity Group L.P. raised its position in Fortune Brands Innovations by 48.8% in the second 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 period. D. E. Shaw & Co. Inc. increased its stake in shares of Fortune Brands Innovations by 12,402.4% in the 2nd 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 position in Fortune Brands Innovations in the 2nd quarter worth $20,857,000. Robeco Schweiz AG lifted its position in Fortune Brands Innovations by 26.5% during 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 grew its holdings in Fortune Brands Innovations by 71.0% during the second quarter. AQR Capital Management LLC now owns 415,255 shares of the company’s stock valued at $26,967,000 after purchasing an additional 172,435 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Up 1.8 %

Shares of FBIN stock opened at $85.62 on Wednesday. The company’s fifty day simple moving average is $84.76 and its two-hundred day simple moving average is $76.12. Fortune Brands Innovations, Inc. has a 52 week low of $59.72 and a 52 week high of $90.54. The stock has a market cap of $10.63 billion, a P/E ratio of 24.25, a PEG ratio of 2.64 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.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is presently 27.20%.

Analyst Upgrades and Downgrades

FBIN has been the topic of several recent research reports. Loop Capital decreased their price objective on 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 raised their target price on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. The Goldman Sachs Group upped their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Truist Financial raised their price objective on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Barclays upped their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.