Metis Global Partners LLC Has $570,000 Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Metis Global Partners LLC decreased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 18.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,367 shares of the company’s stock after selling 1,483 shares during the period. Metis Global Partners LLC’s holdings in Fortune Brands Innovations were worth $570,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Select Equity Group L.P. lifted its position in shares of Fortune Brands Innovations by 48.8% during the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after purchasing an additional 2,075,673 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Fortune Brands Innovations by 10.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,840,067 shares of the company’s stock worth $119,501,000 after buying an additional 167,758 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Fortune Brands Innovations by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company’s stock valued at $89,507,000 after buying an additional 24,139 shares during the last quarter. Robeco Schweiz AG increased its stake in shares of Fortune Brands Innovations by 26.5% in the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock valued at $58,873,000 after buying an additional 189,635 shares during the period. Finally, APG Asset Management N.V. raised its position in shares of Fortune Brands Innovations by 1.7% during the second quarter. APG Asset Management N.V. now owns 539,712 shares of the company’s stock worth $32,702,000 after acquiring an additional 9,145 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

FBIN has been the subject of a number of research reports. Jefferies Financial Group lifted their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group boosted 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 note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. BMO Capital Markets lifted their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Finally, UBS Group cut their price target on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Stock Up 0.5 %

Shares of Fortune Brands Innovations stock opened at $74.30 on Tuesday. The company has a market capitalization of $9.23 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 2.37 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The business has a 50-day moving average of $84.75 and a two-hundred day moving average of $76.46. Fortune Brands Innovations, Inc. has a 1 year low of $62.54 and a 1 year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the business earned $1.19 EPS. Fortune Brands Innovations’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is presently 27.04%.

Fortune Brands Innovations Company 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.