KBC Group NV Increases Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

KBC Group NV boosted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 30.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 163,466 shares of the company’s stock after buying an additional 38,546 shares during the period. KBC Group NV’s holdings in Fortune Brands Innovations were worth $11,169,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC boosted its holdings in Fortune Brands Innovations by 104.5% in the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after purchasing an additional 3,024,950 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Fortune Brands Innovations by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after buying an additional 35,289 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Fortune Brands Innovations by 11.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock worth $111,650,000 after buying an additional 130,170 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 worth $76,379,000 after acquiring an additional 4,248 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Fortune Brands Innovations by 5.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 381,827 shares of the company’s stock valued at $34,185,000 after acquiring an additional 21,362 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on FBIN. BMO Capital Markets boosted their price target on 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 dropped their price objective on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Robert W. Baird decreased their price target on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Truist Financial lifted their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Evercore ISI decreased their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $89.36.

Fortune Brands Innovations Trading Down 1.1 %

Shares of Fortune Brands Innovations stock opened at $72.16 on Thursday. The company has a fifty day moving average of $73.44 and a 200 day moving average of $78.18. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The company has a market capitalization of $8.96 billion, a P/E ratio of 20.33, a P/E/G ratio of 2.17 and a beta of 1.49. 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 released its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the business posted $1.19 earnings per share. The firm’s revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio (DPR) 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.