Nordea Investment Management AB Has $132.34 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Nordea Investment Management AB raised its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,916,782 shares of the company's stock after buying an additional 35,289 shares during the quarter. Nordea Investment Management AB owned about 1.54% of Fortune Brands Innovations worth $132,335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in Fortune Brands Innovations in the third quarter valued at about $25,000. Brown Brothers Harriman & Co. grew its holdings in shares of Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company's stock valued at $34,000 after purchasing an additional 437 shares during the last quarter. Quarry LP increased its position in Fortune Brands Innovations by 3,069.0% during the 2nd quarter. Quarry LP now owns 919 shares of the company's stock worth $60,000 after purchasing an additional 890 shares in the last quarter. Raleigh Capital Management Inc. increased its position in Fortune Brands Innovations by 31.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company's stock worth $80,000 after purchasing an additional 216 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in Fortune Brands Innovations in the 3rd quarter valued at approximately $81,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FBIN has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Barclays upped their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Robert W. Baird cut their price target on Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. UBS Group cut their target price on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Finally, Evercore ISI decreased their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating for the company in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $91.36.

Fortune Brands Innovations Trading Down 0.6 %

NYSE FBIN traded down $0.41 during mid-day trading on Tuesday, reaching $67.91. 1,671,727 shares of the stock were exchanged, compared to its average volume of 1,091,581. The stock has a market cap of $8.44 billion, a P/E ratio of 19.13, a P/E/G ratio of 2.43 and a beta of 1.47. 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 one year low of $62.54 and a one year high of $90.54. The stock has a 50 day simple moving average of $75.49 and a 200-day simple moving average of $77.41.

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

Fortune Brands Innovations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.25 dividend. The ex-dividend date is Friday, February 21st. This is a positive change from Fortune Brands Innovations's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.47%. Fortune Brands Innovations's payout ratio is 27.04%.

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.