Optimum Investment Advisors Invests $42,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Optimum Investment Advisors purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 500 shares of the company’s stock, valued at approximately $42,000.

Several other large investors have also modified their holdings of the stock. Tobam lifted its holdings in Fortune Brands Innovations by 1,181.5% in the fourth quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after acquiring an additional 319 shares during the last quarter. Sound Income Strategies LLC bought a new position in Fortune Brands Innovations in the fourth quarter worth about $27,000. Principal Securities Inc. bought a new position in Fortune Brands Innovations in the fourth quarter worth about $29,000. Rise Advisors LLC bought a new position in Fortune Brands Innovations in the first quarter worth about $38,000. Finally, First United Bank & Trust bought a new position in Fortune Brands Innovations in the fourth quarter worth about $38,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 0.8 %

Shares of NYSE:FBIN opened at $67.11 on Friday. The firm has a fifty day moving average of $71.10 and a two-hundred day moving average of $76.21. The firm has a market capitalization of $8.39 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 1.86 and a beta of 1.57. Fortune Brands Innovations, Inc. has a 12-month low of $54.10 and a 12-month high of $84.92. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.08 billion. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. On average, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.31 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Thursday, May 23rd. Fortune Brands Innovations’s payout ratio is presently 29.36%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FBIN. Robert W. Baird lifted their price target on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Evercore ISI cut their price target on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, May 1st. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $79.22.

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.