Knuff & Co LLC Reduces Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Knuff & Co LLC trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 15.1% during the third quarter, Holdings Channel reports. The firm owned 7,322 shares of the company’s stock after selling 1,300 shares during the quarter. Knuff & Co LLC’s holdings in Fortune Brands Innovations were worth $656,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FBIN. CIBC Asset Management Inc increased its stake in shares of Fortune Brands Innovations by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after purchasing an additional 121 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of Fortune Brands Innovations by 2.9% in the third quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock worth $502,000 after acquiring an additional 164 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in shares of Fortune Brands Innovations by 2.4% in the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock worth $474,000 after acquiring an additional 169 shares during the last quarter. CWM LLC boosted its stake in shares of Fortune Brands Innovations by 8.3% during the third quarter. CWM LLC now owns 2,199 shares of the company’s stock valued at $197,000 after acquiring an additional 169 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Fortune Brands Innovations by 0.5% during the 3rd quarter. Van ECK Associates Corp now owns 37,540 shares of the company’s stock worth $3,254,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 0.5 %

NYSE:FBIN opened at $74.30 on Tuesday. The business’s 50-day moving average is $84.75 and its two-hundred day moving average is $76.46. The firm has a market capitalization of $9.23 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 2.37 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month high of $90.54. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business earned $1.19 EPS. Fortune Brands Innovations’s quarterly revenue was down 8.4% compared to the same quarter last year. Research analysts predict that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

Wall Street Analyst Weigh In

FBIN has been the subject of a number of recent research reports. 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 report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Robert W. Baird reduced their target price on 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. BMO Capital Markets lifted their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI decreased their target price on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and an average price target of $91.36.

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.