Marshall Wace LLP Sells 450,788 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Marshall Wace LLP lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 40.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 650,745 shares of the company's stock after selling 450,788 shares during the quarter. Marshall Wace LLP owned approximately 0.52% of Fortune Brands Innovations worth $42,259,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. LRI Investments LLC acquired a new position in shares of Fortune Brands Innovations during the 1st quarter valued at about $34,000. Rise Advisors LLC acquired a new position in Fortune Brands Innovations during the first quarter valued at approximately $38,000. Family Firm Inc. bought a new position in shares of Fortune Brands Innovations in the second quarter valued at approximately $31,000. Optimum Investment Advisors acquired a new stake in shares of Fortune Brands Innovations in the first quarter worth $42,000. Finally, Brown Brothers Harriman & Co. boosted 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 worth $34,000 after buying an additional 437 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FBIN shares. Barclays upped their price target on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the company an "overweight" rating in a report on Friday, July 26th. Truist Financial lifted their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Loop Capital lowered their price objective on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a "hold" rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada upped their target price on shares of 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. Finally, The Goldman Sachs Group raised their price target on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $83.20.

Fortune Brands Innovations Price Performance

Shares of FBIN traded up $1.22 during trading hours on Thursday, hitting $87.68. The stock had a trading volume of 678,490 shares, compared to its average volume of 1,210,469. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 2.74 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The company's fifty day moving average is $78.61 and its two-hundred day moving average is $74.89. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week high of $88.99.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The company's revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $1.07 earnings per share. On average, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.09%. Fortune Brands Innovations's dividend payout ratio is 29.36%.

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.