Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Atlas Capital Advisors LLC

Atlas Capital Advisors LLC trimmed its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 15.8% during the second quarter, HoldingsChannel reports. The firm owned 3,948 shares of the company’s stock after selling 739 shares during the period. Atlas Capital Advisors LLC’s holdings in Fortune Brands Innovations were worth $256,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in Fortune Brands Innovations by 17.8% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,424 shares of the company’s stock worth $1,456,000 after buying an additional 3,392 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Fortune Brands Innovations by 18.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 360,465 shares of the company’s stock worth $23,409,000 after acquiring an additional 57,086 shares during the period. Simmons Bank acquired a new position in shares of Fortune Brands Innovations during the 2nd quarter valued at about $209,000. Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Fortune Brands Innovations by 52.9% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 21,100 shares of the company’s stock valued at $1,370,000 after acquiring an additional 7,300 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in shares of Fortune Brands Innovations in the second quarter valued at about $421,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FBIN has been the topic of a number of analyst reports. Truist Financial lifted their target price 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. Royal Bank of Canada upped their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lifted their target price on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group increased their price target on Fortune Brands Innovations from $75.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Barclays boosted their price objective 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. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $83.20.

Fortune Brands Innovations Trading Up 1.1 %

Shares of NYSE FBIN traded up $0.86 during trading on Friday, reaching $79.40. The stock had a trading volume of 1,759,694 shares, compared to its average volume of 1,221,362. The business’s 50-day moving average price is $72.63 and its 200-day moving average price is $74.64. Fortune Brands Innovations, Inc. has a fifty-two week low of $54.10 and a fifty-two week high of $84.92. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The company has a market cap of $9.93 billion, a P/E ratio of 24.28, a PEG ratio of 2.49 and a beta of 1.52.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. On average, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.21%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 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.