Two Sigma Advisers LP Sells 117,800 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Two Sigma Advisers LP decreased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 34.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 225,900 shares of the company's stock after selling 117,800 shares during the period. Two Sigma Advisers LP owned 0.18% of Fortune Brands Innovations worth $20,225,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in shares of Fortune Brands Innovations by 1,074.0% during the second quarter. Van ECK Associates Corp now owns 37,367 shares of the company's stock worth $2,426,000 after purchasing an additional 34,184 shares in the last quarter. Qsemble Capital Management LP boosted its stake in Fortune Brands Innovations by 1,091.8% in the 2nd quarter. Qsemble Capital Management LP now owns 28,459 shares of the company's stock worth $1,848,000 after purchasing an additional 26,071 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in Fortune Brands Innovations during the 2nd quarter valued at approximately $421,000. Teca Partners LP grew its holdings in Fortune Brands Innovations by 165.0% during the 2nd quarter. Teca Partners LP now owns 233,229 shares of the company's stock valued at $15,146,000 after buying an additional 145,229 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings 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 acquiring an additional 11,400 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Trading Down 0.0 %

Shares of FBIN stock traded down $0.01 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 company's fifty day simple moving average is $82.71 and its 200 day simple moving average is $76.88. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week 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 stock has a market capitalization of $9.80 billion, a PE ratio of 22.22, a P/E/G ratio of 2.53 and a beta of 1.48.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. The business 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 for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the company earned $1.19 earnings per share. As a group, analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 27.04%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FBIN. Jefferies Financial Group increased their price target 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. BMO Capital Markets increased their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a "market perform" rating in a research report on Tuesday, October 22nd. Evercore ISI reduced their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating on the stock in a research report on Thursday, November 7th. UBS Group lowered their price objective on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Finally, Barclays lifted their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $91.36.

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.