Headlands Technologies LLC Buys Shares of 6,351 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Headlands Technologies LLC purchased a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,351 shares of the company’s stock, valued at approximately $412,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Fortune Brands Innovations by 8.9% during the first quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock valued at $139,000 after buying an additional 134 shares during the last quarter. Choreo LLC boosted its stake in Fortune Brands Innovations by 2.9% in the 1st quarter. Choreo LLC now owns 5,701 shares of the company’s stock worth $483,000 after purchasing an additional 163 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Fortune Brands Innovations by 2.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock valued at $665,000 after purchasing an additional 168 shares during the last quarter. Graypoint LLC increased its stake in Fortune Brands Innovations by 5.7% during the 2nd quarter. Graypoint LLC now owns 3,250 shares of the company’s stock valued at $211,000 after purchasing an additional 175 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in Fortune Brands Innovations by 10.7% in the second quarter. V Square Quantitative Management LLC now owns 1,848 shares of the company’s stock worth $120,000 after buying an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

NYSE FBIN opened at $81.13 on Friday. The company has a 50-day moving average price of $75.15 and a 200-day moving average price of $74.56. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week high of $84.92. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $10.15 billion, a P/E ratio of 24.81, a PEG ratio of 2.44 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, July 25th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. The business had revenue of $1.24 billion during 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 firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 earnings per share. Equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, August 23rd. Fortune Brands Innovations’s dividend payout ratio is presently 29.36%.

Wall Street Analysts Forecast Growth

FBIN has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Truist Financial lifted their target price on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price target on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group upped their target price on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and an average price target of $83.20.

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.