Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Arvest Trust Co. N A

Arvest Trust Co. N A lowered its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,463 shares of the company’s stock after selling 22,008 shares during the quarter. Arvest Trust Co. N A owned about 0.16% of Fortune Brands Innovations worth $13,083,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in FBIN. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Fortune Brands Innovations by 24.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,137 shares of the company’s stock valued at $4,607,000 after purchasing an additional 12,217 shares during the period. Schroder Investment Management Group raised its position in shares of Fortune Brands Innovations by 3.6% during the 4th quarter. Schroder Investment Management Group now owns 620,402 shares of the company’s stock worth $47,237,000 after buying an additional 21,517 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Fortune Brands Innovations by 9.0% in the 4th quarter. Allianz Asset Management GmbH now owns 841,545 shares of the company’s stock worth $64,075,000 after acquiring an additional 69,502 shares during the period. Van ECK Associates Corp lifted its stake in shares of Fortune Brands Innovations by 1,074.0% in the 2nd quarter. Van ECK Associates Corp now owns 37,367 shares of the company’s stock worth $2,426,000 after acquiring an additional 34,184 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Fortune Brands Innovations by 17.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock valued at $5,052,000 after acquiring an additional 8,836 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $84.10 on Tuesday. The company has a 50-day moving average of $75.95 and a two-hundred day moving average of $74.51. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 2.50 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $84.92.

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

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 23rd were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.14%. Fortune Brands Innovations’s dividend payout ratio is 29.36%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank of Canada upped their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Loop Capital decreased their target price on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Truist Financial boosted their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. The Goldman Sachs Group raised their price objective on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Barclays lifted their price objective on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus target price of $83.20.

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.