Norden Group LLC Makes New $236,000 Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Norden Group LLC bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,784 shares of the company’s stock, valued at approximately $236,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Fortune Brands Innovations by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,409,724 shares of the company’s stock worth $771,388,000 after acquiring an additional 50,047 shares during the last quarter. Fiduciary Management Inc. WI lifted its position in shares of Fortune Brands Innovations by 19.4% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,986,070 shares of the company’s stock worth $151,219,000 after purchasing an additional 322,472 shares during the period. Nordea Investment Management AB lifted its position in shares of Fortune Brands Innovations by 62.8% in the 4th quarter. Nordea Investment Management AB now owns 1,386,155 shares of the company’s stock worth $105,888,000 after purchasing an additional 534,901 shares during the period. Norges Bank acquired a new position in shares of Fortune Brands Innovations in the 4th quarter worth approximately $91,504,000. Finally, Pacer Advisors Inc. lifted its position in shares of Fortune Brands Innovations by 28.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,195,313 shares of the company’s stock worth $91,011,000 after purchasing an additional 262,922 shares during the period. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Stock Down 0.2 %

Fortune Brands Innovations stock opened at $64.30 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33. Fortune Brands Innovations, Inc. has a 12-month low of $54.10 and a 12-month high of $84.92. The firm’s fifty day moving average is $68.73 and its 200 day moving average is $75.21. The company has a market capitalization of $8.04 billion, a PE ratio of 19.66, a PEG ratio of 1.73 and a beta of 1.52.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last released its earnings results 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. 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 for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company earned $0.69 EPS. Fortune Brands Innovations’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.31 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

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

Wall Street Analyst Weigh In

FBIN has been the topic of a number of recent analyst reports. Evercore ISI dropped their price target on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, May 1st. Robert W. Baird boosted their price target 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. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $80.38.

Get Our Latest Stock Report on FBIN

Fortune Brands Innovations Company 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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