KBC Group NV Buys 38,546 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

KBC Group NV lifted its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 30.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 163,466 shares of the company’s stock after acquiring an additional 38,546 shares during the period. KBC Group NV owned approximately 0.13% of Fortune Brands Innovations worth $11,169,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in shares of Fortune Brands Innovations by 30.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 36,582 shares of the company’s stock valued at $2,376,000 after purchasing an additional 8,590 shares during the last quarter. Sei Investments Co. grew its position in Fortune Brands Innovations by 10.6% during the second quarter. Sei Investments Co. now owns 55,768 shares of the company’s stock valued at $3,618,000 after acquiring an additional 5,330 shares during the last quarter. MBB Public Markets I LLC purchased a new position in shares of Fortune Brands Innovations during the second quarter worth approximately $603,000. Millennium Management LLC bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth approximately $9,271,000. Finally, Quarry LP boosted its stake in shares of Fortune Brands Innovations by 3,069.0% in the 2nd quarter. Quarry LP now owns 919 shares of the company’s stock valued at $60,000 after purchasing an additional 890 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 1.1 %

Shares of FBIN opened at $72.16 on Thursday. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.17 and a beta of 1.49. The firm’s 50-day moving average price is $73.44 and its 200-day moving average price is $78.18. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95.

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 analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the business earned $1.19 EPS. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. Sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, February 21st. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s payout ratio is 27.04%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FBIN. Evercore ISI lowered their price target on shares of 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. Jefferies Financial Group increased their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group decreased their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Truist Financial increased their price objective 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. Finally, Barclays decreased their target price on shares of Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of “Hold” and an average price target of $89.36.

About Fortune Brands Innovations

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.