Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,718 shares of the company’s stock after acquiring an additional 1,500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Fortune Brands Innovations were worth $1,605,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Securities Inc. bought a new stake in shares of Fortune Brands Innovations in the 4th quarter worth approximately $29,000. LRI Investments LLC bought a new stake in shares of Fortune Brands Innovations in the 1st quarter worth approximately $34,000. Rise Advisors LLC bought a new stake in shares of Fortune Brands Innovations in the 1st quarter worth approximately $38,000. Family Firm Inc. bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth approximately $31,000. Finally, Optimum Investment Advisors bought a new stake in shares of Fortune Brands Innovations in the 1st quarter worth approximately $42,000. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Trading Up 0.5 %

Fortune Brands Innovations stock opened at $87.03 on Tuesday. The business’s 50-day simple moving average is $77.82 and its 200-day simple moving average is $74.68. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week high of $88.22. The firm has a market capitalization of $10.89 billion, a PE ratio of 26.61, a PEG ratio of 2.50 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34.

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

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 23rd were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.96 annualized dividend and a yield of 1.10%. Fortune Brands Innovations’s dividend payout ratio is 29.36%.

Wall Street Analysts Forecast Growth

FBIN has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. The Goldman Sachs Group boosted their price target on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Barclays increased their target price on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $83.20.

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.