APG Asset Management N.V. Has $32.70 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

APG Asset Management N.V. lifted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 539,712 shares of the company's stock after purchasing an additional 9,145 shares during the period. APG Asset Management N.V. owned 0.43% of Fortune Brands Innovations worth $32,702,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Fortune Brands Innovations by 8.9% in the 1st quarter. GAMMA Investing LLC now owns 1,640 shares of the company's stock worth $139,000 after acquiring an additional 134 shares during the period. Choreo LLC lifted its position in shares of Fortune Brands Innovations by 2.9% during the 1st quarter. Choreo LLC now owns 5,701 shares of the company's stock worth $483,000 after purchasing an additional 163 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Fortune Brands Innovations by 2.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company's stock valued at $665,000 after purchasing an additional 168 shares during the period. Summit Trail Advisors LLC boosted its stake in Fortune Brands Innovations by 2.4% during the 2nd quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company's stock valued at $474,000 after purchasing an additional 169 shares during the period. Finally, Graypoint LLC increased its position in Fortune Brands Innovations by 5.7% in the 2nd quarter. Graypoint LLC now owns 3,250 shares of the company's stock worth $211,000 after buying an additional 175 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FBIN has been the topic of several research analyst reports. Truist Financial raised their price objective on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Barclays raised their price objective on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Loop Capital decreased their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a "hold" rating on the stock in a research report on Friday, July 12th. 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 note on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their target price on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a "neutral" rating in a report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Fortune Brands Innovations has a consensus rating of "Hold" and an average price target of $83.20.

Fortune Brands Innovations Trading Up 1.0 %

Shares of FBIN stock traded up $0.92 on Friday, reaching $88.60. 651,293 shares of the stock were exchanged, compared to its average volume of 1,207,479. The stock has a 50 day moving average price of $78.95 and a 200 day moving average price of $74.89. The stock has a market cap of $11.08 billion, a PE ratio of 27.09, a P/E/G ratio of 2.74 and a beta of 1.51. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $89.57. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.04. The company had revenue of $1.24 billion for 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 for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 EPS. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.08%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations's payout ratio is 29.36%.

About Fortune Brands Innovations

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.