Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 25.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,789 shares of the company’s stock after purchasing an additional 30,243 shares during the period. BNP Paribas Financial Markets owned 0.12% of Fortune Brands Innovations worth $12,767,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FBIN. GAMMA Investing LLC boosted its position in Fortune Brands Innovations by 8.9% during the first quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock worth $139,000 after acquiring an additional 134 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings 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 during the last quarter. Addison Advisors LLC grew its position in shares of Fortune Brands Innovations by 38.7% in the fourth quarter. Addison Advisors LLC now owns 563 shares of the company’s stock valued at $43,000 after purchasing an additional 157 shares during the period. Tributary Capital Management LLC increased its stake in Fortune Brands Innovations by 1.9% in the fourth quarter. Tributary Capital Management LLC now owns 8,661 shares of the company’s stock valued at $659,000 after purchasing an additional 164 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted 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 period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN opened at $64.43 on Tuesday. The business’s 50-day simple moving average is $68.91 and its 200 day simple moving average is $75.31. The company has a market cap of $8.06 billion, a P/E ratio of 19.70, a PEG ratio of 1.73 and a beta of 1.52. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.08 and a current ratio of 2.04. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $84.92.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.08 billion. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. On average, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.31 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, May 23rd. This represents a $0.96 annualized dividend and a dividend yield of 1.49%. Fortune Brands Innovations’s dividend payout ratio is presently 29.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Evercore ISI lowered their price objective on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $80.38.

View Our Latest Stock Analysis on FBIN

Fortune Brands Innovations Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

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