Victory Capital Management Inc. Sells 2,736 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Victory Capital Management Inc. cut its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,100 shares of the company’s stock after selling 2,736 shares during the quarter. Victory Capital Management Inc.’s holdings in Fortune Brands Innovations were worth $2,247,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FBIN. O Shaughnessy Asset Management LLC lifted its stake in shares of Fortune Brands Innovations by 11.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,547 shares of the company’s stock valued at $724,000 after purchasing an additional 909 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in Fortune Brands Innovations by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 1,800 shares of the company’s stock worth $152,000 after buying an additional 900 shares during the period. Bessemer Group Inc. increased its position in Fortune Brands Innovations by 809.4% during the first quarter. Bessemer Group Inc. now owns 2,992 shares of the company’s stock valued at $253,000 after acquiring an additional 2,663 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Fortune Brands Innovations in the first quarter valued at $34,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Fortune Brands Innovations in the 1st quarter worth about $1,372,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Up 1.0 %

FBIN opened at $76.50 on Monday. The company has a fifty day moving average of $84.29 and a two-hundred day moving average of $76.51. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.43 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The business’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 EPS. On average, research analysts expect that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is 27.04%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial upped their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets increased their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group increased their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Jefferies Financial Group increased their target price on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and a consensus 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.