QRG Capital Management Inc. Sells 1,257 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

QRG Capital Management Inc. trimmed its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,277 shares of the company’s stock after selling 1,257 shares during the period. QRG Capital Management Inc.’s holdings in Fortune Brands Innovations were worth $2,442,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FBIN. Select Equity Group L.P. boosted its holdings in shares of Fortune Brands Innovations by 48.8% in 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 buying an additional 2,075,673 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Fortune Brands Innovations by 10.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,840,067 shares of the company’s stock valued at $119,501,000 after buying an additional 167,758 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Fortune Brands Innovations by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company’s stock worth $89,507,000 after acquiring an additional 24,139 shares during the period. Robeco Schweiz AG raised its position in shares of Fortune Brands Innovations by 26.5% in the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock worth $58,873,000 after acquiring an additional 189,635 shares in the last quarter. Finally, APG Asset Management N.V. raised its holdings in shares of Fortune Brands Innovations by 1.7% during the second quarter. APG Asset Management N.V. now owns 539,712 shares of the company’s stock valued at $32,702,000 after purchasing an additional 9,145 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial lifted their target price 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. Robert W. Baird raised their price target on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Barclays increased their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Loop Capital dropped their price target on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Finally, Royal Bank of Canada upped their price target on shares of 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. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $90.20.

Fortune Brands Innovations Trading Down 1.6 %

NYSE FBIN opened at $84.22 on Thursday. 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 12 month low of $59.72 and a 12 month high of $90.54. The firm’s fifty day moving average price is $84.88 and its 200 day moving average price is $76.20. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 2.64 and a beta of 1.51.

Fortune Brands Innovations Dividend Announcement

The firm 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 of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.14%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 27.20%.

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.