Fortune Brands Innovations, Inc. (NYSE:FBIN) Stock Holdings Boosted by Nordea Investment Management AB

Nordea Investment Management AB grew its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,916,782 shares of the company’s stock after purchasing an additional 35,289 shares during the quarter. Nordea Investment Management AB owned 1.54% of Fortune Brands Innovations worth $132,335,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Natixis Advisors LLC lifted its position in shares of Fortune Brands Innovations by 22.1% during the 2nd quarter. Natixis Advisors LLC now owns 48,659 shares of the company’s stock valued at $3,160,000 after acquiring an additional 8,792 shares during the last quarter. Custom Index Systems LLC purchased a new position in Fortune Brands Innovations in the 2nd quarter worth about $342,000. Caprock Group LLC purchased a new position in Fortune Brands Innovations in the 2nd quarter worth about $337,000. Oak Thistle LLC acquired a new stake in Fortune Brands Innovations during the 2nd quarter worth about $309,000. Finally, Quest Partners LLC lifted its stake in Fortune Brands Innovations by 407.8% during the second quarter. Quest Partners LLC now owns 21,868 shares of the company’s stock valued at $1,420,000 after buying an additional 17,562 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays increased their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Evercore ISI reduced their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. UBS Group lowered their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. The Goldman Sachs Group increased their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, BMO Capital Markets raised their price target 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. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $91.36.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $68.34 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The stock’s fifty day simple moving average is $75.81 and its 200 day simple moving average is $77.41. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 19.25, a P/E/G ratio of 2.51 and a beta of 1.49.

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

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.25 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.46%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s payout ratio is 28.17%.

Fortune Brands Innovations Company 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.