KBC Group NV Sells 45,193 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

KBC Group NV lessened its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 26.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,920 shares of the company’s stock after selling 45,193 shares during the quarter. KBC Group NV’s holdings in Fortune Brands Innovations were worth $11,184,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC acquired a new position in Fortune Brands Innovations during the first quarter valued at approximately $201,000. Sei Investments Co. grew its stake in shares of Fortune Brands Innovations by 5.9% in the first quarter. Sei Investments Co. now owns 50,438 shares of the company’s stock valued at $4,271,000 after buying an additional 2,811 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Fortune Brands Innovations by 22.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 76,124 shares of the company’s stock worth $6,445,000 after buying an additional 13,987 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Fortune Brands Innovations by 0.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 150,048 shares of the company’s stock worth $12,564,000 after acquiring an additional 1,278 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in Fortune Brands Innovations by 21.0% in the first quarter. Intech Investment Management LLC now owns 10,452 shares of the company’s stock valued at $885,000 after acquiring an additional 1,814 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 1.5 %

FBIN stock opened at $73.95 on Friday. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week high of $90.54. The company has a market capitalization of $9.19 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.41 and a beta of 1.51. The company’s 50-day simple moving average is $84.82 and its 200 day simple moving average is $76.40. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.24 billion. During the same quarter in the prior year, the business posted $1.19 EPS. The business’s revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders 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 annualized dividend and a yield of 1.30%. Fortune Brands Innovations’s dividend payout ratio is presently 27.04%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI lowered their price objective on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group lifted their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Truist Financial increased their price target 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. 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 report on Wednesday, October 9th. 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $91.36.

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.