KBC Group NV Has $11.18 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

KBC Group NV reduced its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 26.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,920 shares of the company's stock after selling 45,193 shares during the quarter. KBC Group NV owned approximately 0.10% of Fortune Brands Innovations worth $11,184,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Family Firm Inc. acquired a new position in Fortune Brands Innovations during the 2nd quarter worth approximately $31,000. LRI Investments LLC purchased a new position in shares of Fortune Brands Innovations in the 1st quarter worth $34,000. Brown Brothers Harriman & Co. raised its position in shares of Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company's stock worth $34,000 after buying an additional 437 shares during the period. Pathway Financial Advisers LLC purchased a new position in shares of Fortune Brands Innovations in the 1st quarter worth $51,000. Finally, Rothschild Investment LLC purchased a new position in shares of Fortune Brands Innovations in the 2nd quarter worth $54,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FBIN has been the topic of several research reports. Robert W. Baird cut their price objective 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. The Goldman Sachs Group raised their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Royal Bank of Canada raised their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a "sector perform" rating in a research note on Friday, July 26th. Jefferies Financial Group raised their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, Truist Financial raised their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $91.36.

Fortune Brands Innovations Price Performance

Shares of FBIN traded down $1.09 during mid-day trading on Friday, hitting $73.95. 1,495,330 shares of the company traded hands, compared to its average volume of 1,280,720. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average of $84.82 and a 200 day moving average of $76.40. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.37 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same period last year, the firm earned $1.19 earnings per share. The business's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.24 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.30%. Fortune Brands Innovations's dividend 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.