Swedbank AB Acquires Shares of 57,680 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Swedbank AB acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 57,680 shares of the company’s stock, valued at approximately $4,884,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Fortune Brands Innovations by 8.9% in the first 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 last quarter. Apollon Wealth Management LLC boosted its position in shares of Fortune Brands Innovations by 2.2% during the fourth quarter. Apollon Wealth Management LLC now owns 6,867 shares of the company’s stock worth $523,000 after purchasing an additional 149 shares in the last quarter. Addison Advisors LLC boosted its position in shares of Fortune Brands Innovations by 38.7% during the fourth quarter. Addison Advisors LLC now owns 563 shares of the company’s stock worth $43,000 after purchasing an additional 157 shares in the last quarter. Choreo LLC boosted its position in shares of 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of 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 purchasing an additional 168 shares in the last quarter. 87.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FBIN has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Loop Capital dropped their price objective on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Robert W. Baird raised their price objective on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Evercore ISI dropped their price objective on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group raised their price objective 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. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $83.20.

Fortune Brands Innovations Stock Down 3.2 %

FBIN stock traded down $2.53 during midday trading on Friday, hitting $76.59. The company’s stock had a trading volume of 1,493,516 shares, compared to its average volume of 1,784,317. 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 twelve month low of $54.10 and a twelve month high of $84.92. The company’s fifty day moving average price is $69.07 and its 200 day moving average price is $74.88. The stock has a market capitalization of $9.51 billion, a P/E ratio of 23.41, a PEG ratio of 2.49 and a beta of 1.52.

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

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Friday, August 23rd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, August 23rd. Fortune Brands Innovations’s payout ratio is 29.36%.

About Fortune Brands Innovations

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.