Robeco Schweiz AG Has $58.87 Million Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Robeco Schweiz AG increased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 26.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 906,572 shares of the company’s stock after buying an additional 189,635 shares during the quarter. Robeco Schweiz AG owned approximately 0.72% of Fortune Brands Innovations worth $58,873,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Fortune Brands Innovations by 8.9% in the 1st quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock valued at $139,000 after acquiring an additional 134 shares during the period. Choreo LLC grew its holdings in Fortune Brands Innovations by 2.9% during the first quarter. Choreo LLC now owns 5,701 shares of the company’s stock worth $483,000 after purchasing an additional 163 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Fortune Brands Innovations by 2.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock worth $665,000 after buying an additional 168 shares during the last quarter. Graypoint LLC raised its stake in Fortune Brands Innovations by 5.7% in the second quarter. Graypoint LLC now owns 3,250 shares of the company’s stock valued at $211,000 after buying an additional 175 shares during the period. Finally, V Square Quantitative Management LLC lifted its position in shares of Fortune Brands Innovations by 10.7% in the second quarter. V Square Quantitative Management LLC now owns 1,848 shares of the company’s stock valued at $120,000 after buying an additional 179 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Loop Capital dropped their price target on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. JPMorgan Chase & Co. raised their target price on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group lifted their target price on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays raised their price objective on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Truist Financial upped their target price on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations presently has an average rating of “Hold” and an average price target of $83.20.

Fortune Brands Innovations Stock Up 2.2 %

Shares of FBIN opened at $81.13 on Friday. The firm has a 50 day simple moving average of $75.15 and a two-hundred day simple moving average of $74.56. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $84.92. The company has a market cap of $10.15 billion, a P/E ratio of 24.81, a P/E/G ratio of 2.44 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. Fortune Brands Innovations’s revenue was up 6.6% on a year-over-year basis. Research analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 23rd were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, August 23rd. Fortune Brands Innovations’s payout ratio is 29.36%.

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.