Tokio Marine Asset Management Co. Ltd. Raises Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,780 shares of the company’s stock after acquiring an additional 249 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Fortune Brands Innovations were worth $405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Choreo LLC purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter worth about $422,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Fortune Brands Innovations by 24.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,137 shares of the company’s stock valued at $4,607,000 after purchasing an additional 12,217 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Fortune Brands Innovations by 383.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 39,596 shares of the company’s stock worth $3,015,000 after buying an additional 31,406 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Fortune Brands Innovations by 3.6% during the fourth quarter. Schroder Investment Management Group now owns 620,402 shares of the company’s stock worth $47,237,000 after buying an additional 21,517 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in shares of Fortune Brands Innovations by 9.0% during the fourth quarter. Allianz Asset Management GmbH now owns 841,545 shares of the company’s stock valued at $64,075,000 after buying an additional 69,502 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Trading Up 2.9 %

Fortune Brands Innovations stock opened at $64.43 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 1.08 and a debt-to-equity ratio of 1.33. The firm has a market cap of $8.06 billion, a PE ratio of 19.70, a P/E/G ratio of 1.73 and a beta of 1.52. The stock’s 50 day simple moving average is $68.91 and its two-hundred day simple moving average is $75.31. Fortune Brands Innovations, Inc. has a 12 month low of $54.10 and a 12 month high of $84.92.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company earned $0.69 EPS. Fortune Brands Innovations’s revenue was up 6.7% compared to the same quarter last year. Analysts anticipate that Fortune Brands Innovations, Inc. will post 4.31 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Analysis on Fortune Brands Innovations

About Fortune Brands Innovations

(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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