MetLife Investment Management LLC Reduces Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

MetLife Investment Management LLC reduced its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,128 shares of the company’s stock after selling 1,730 shares during the period. MetLife Investment Management LLC’s holdings in Fortune Brands Innovations were worth $5,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FBIN. FMR LLC increased its holdings in shares of Fortune Brands Innovations by 104.5% during the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after acquiring an additional 3,024,950 shares in the last quarter. Select Equity Group L.P. increased its stake in Fortune Brands Innovations by 48.8% during the 2nd quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock valued at $410,866,000 after purchasing an additional 2,075,673 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Fortune Brands Innovations by 12,402.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock worth $21,921,000 after buying an additional 334,865 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Fortune Brands Innovations during the second quarter worth $20,857,000. Finally, Robeco Schweiz AG grew its holdings in shares of Fortune Brands Innovations by 26.5% during the second quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock valued at $58,873,000 after buying an additional 189,635 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Up 0.4 %

FBIN stock opened at $78.30 on Friday. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The firm’s fifty day moving average is $83.58 and its 200 day moving average is $76.62. The firm has a market cap of $9.73 billion, a PE ratio of 22.06, a P/E/G ratio of 2.50 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion during 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%. Fortune Brands Innovations’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 EPS. On average, research analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a $0.24 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.23%. Fortune Brands Innovations’s dividend payout ratio is currently 27.04%.

Analyst Ratings Changes

FBIN has been the subject of a number of research reports. Barclays lifted their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. UBS Group decreased their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a report 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 report on Tuesday, October 8th. Evercore ISI decreased their price objective 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. Finally, BMO Capital Markets upped their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company 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. According to MarketBeat, Fortune Brands Innovations currently has an average rating of “Hold” and an average 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.