Apollon Wealth Management LLC Sells 190 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Apollon Wealth Management LLC cut its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,005 shares of the company’s stock after selling 190 shares during the quarter. Apollon Wealth Management LLC’s holdings in Fortune Brands Innovations were worth $538,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Select Equity Group L.P. raised 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 during the period. D. E. Shaw & Co. Inc. increased its position in 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 purchasing an additional 334,865 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Fortune Brands Innovations during the second quarter valued at $20,857,000. Robeco Schweiz AG lifted its position in 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 purchasing an additional 189,635 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Fortune Brands Innovations by 71.0% in the 2nd quarter. AQR Capital Management LLC now owns 415,255 shares of the company’s stock worth $26,967,000 after buying an additional 172,435 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FBIN has been the subject of a number of analyst reports. Jefferies Financial Group increased their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI lowered their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Barclays increased their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. BMO Capital Markets lifted 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 research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Trading Down 1.5 %

FBIN opened at $73.95 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average is $84.82 and its two-hundred day moving average is $76.40. The company has a market capitalization of $9.19 billion, a P/E ratio of 20.83, a PEG ratio of 2.41 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The business’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.19 EPS. Analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 earnings per share 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. Stockholders of record on Friday, November 22nd will be issued 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 1.30%. Fortune Brands Innovations’s dividend payout ratio is presently 27.04%.

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.