XTX Topco Ltd reduced its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 34.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,583 shares of the company's stock after selling 8,540 shares during the period. XTX Topco Ltd's holdings in Fortune Brands Innovations were worth $1,485,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in Fortune Brands Innovations by 1,074.0% in the 2nd quarter. Van ECK Associates Corp now owns 37,367 shares of the company's stock valued at $2,426,000 after purchasing an additional 34,184 shares during the last quarter. Qsemble Capital Management LP boosted its position in shares of Fortune Brands Innovations by 1,091.8% during the 2nd quarter. Qsemble Capital Management LP now owns 28,459 shares of the company's stock valued at $1,848,000 after purchasing an additional 26,071 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $421,000. Teca Partners LP grew its holdings in Fortune Brands Innovations by 165.0% in the second quarter. Teca Partners LP now owns 233,229 shares of the company's stock worth $15,146,000 after purchasing an additional 145,229 shares during the period. Finally, Handelsbanken Fonder AB increased its position in Fortune Brands Innovations by 50.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company's stock valued at $3,053,000 after buying an additional 11,400 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 NYSE FBIN traded down $0.01 during mid-day trading on Monday, reaching $78.86. 1,020,409 shares of the company's stock were exchanged, compared to its average volume of 1,188,378. The firm has a 50-day moving average price of $82.71 and a two-hundred day moving average price of $76.88. 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 firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 2.53 and a beta of 1.48. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week high of $90.54.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping 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 analyst estimates of $1.24 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. The company's revenue for the quarter was down 8.4% on a year-over-year basis. Analysts predict that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.
Fortune Brands Innovations Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is 27.04%.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on FBIN shares. Robert W. Baird lowered their target price on Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating on the stock in a research report on Thursday, November 7th. Jefferies Financial Group lifted their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Truist Financial raised their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. BMO Capital Markets boosted their price objective on 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, Evercore ISI lowered their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating for the company in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $91.36.
View Our Latest Analysis on FBIN
Fortune Brands Innovations Profile
(
Free Report)
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.
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