Swedbank AB Has $4.81 Million Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Swedbank AB decreased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 5.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,736 shares of the company’s stock after selling 3,021 shares during the quarter. Swedbank AB’s holdings in Fortune Brands Innovations were worth $4,811,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Select Equity Group L.P. raised its position in shares of Fortune Brands Innovations by 48.8% in the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock valued at $410,866,000 after buying an additional 2,075,673 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Fortune Brands Innovations by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,840,067 shares of the company’s stock valued at $119,501,000 after acquiring an additional 167,758 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Fortune Brands Innovations by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company’s stock valued at $89,507,000 after acquiring an additional 24,139 shares during the period. Robeco Schweiz AG increased its position in shares of Fortune Brands Innovations by 26.5% in the second quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock worth $58,873,000 after purchasing an additional 189,635 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Fortune Brands Innovations by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 853,111 shares of the company’s stock valued at $76,379,000 after purchasing an additional 4,248 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. BMO Capital Markets lifted their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. UBS Group cut their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Barclays lifted their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Truist Financial upped their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $77.97 on Thursday. The business’s 50-day moving average price is $84.08 and its 200-day moving average price is $76.57. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month 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 firm has a market capitalization of $9.69 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 2.59 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The company’s revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 EPS. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is presently 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.