B. Metzler seel. Sohn & Co. Holding AG Takes $1.21 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,539 shares of the company's stock, valued at approximately $1,212,000.

Other hedge funds also recently made changes to their positions in the company. Select Equity Group L.P. raised its position in shares of Fortune Brands Innovations by 48.8% in 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 in the last quarter. Dimensional Fund Advisors LP raised its stake 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 during the period. Bank of New York Mellon Corp boosted its holdings in Fortune Brands Innovations by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company's stock worth $89,507,000 after acquiring an additional 24,139 shares in the last quarter. Robeco Schweiz AG increased its stake in Fortune Brands Innovations by 26.5% during the 2nd 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, APG Asset Management N.V. raised its holdings in 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 buying an additional 9,145 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Trading Up 1.3 %

FBIN traded up $0.98 during midday trading on Friday, reaching $76.50. 1,306,313 shares of the company's stock traded hands, compared to its average volume of 1,447,565. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week high of $90.54. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 2.43 and a beta of 1.51. The firm has a fifty day moving average of $84.29 and a two-hundred day moving average of $76.49.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same quarter in the previous year, the business posted $1.19 earnings per share. The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business 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 $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations's payout ratio is currently 27.04%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FBIN. The Goldman Sachs Group upped their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. UBS Group reduced their price objective on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Evercore ISI lowered their target price on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets upped their price objective on shares of 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. Finally, Barclays raised their price target 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. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $91.36.

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.