Benjamin F. Edwards & Company Inc. Trims Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Benjamin F. Edwards & Company Inc. trimmed its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,415 shares of the company’s stock after selling 327 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Fortune Brands Innovations were worth $676,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in Fortune Brands Innovations in the 4th quarter valued at about $29,000. Family Firm Inc. purchased a new position in shares of Fortune Brands Innovations during the second quarter valued at approximately $31,000. LRI Investments LLC acquired a new stake in Fortune Brands Innovations during the first quarter worth approximately $34,000. Brown Brothers Harriman & Co. grew its stake in Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after acquiring an additional 437 shares during the period. Finally, Rise Advisors LLC acquired a new position in Fortune Brands Innovations in the 1st quarter valued at $38,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FBIN shares. Barclays raised their price objective on Fortune Brands Innovations from $84.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Loop Capital dropped their price target on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Truist Financial increased their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada boosted their price objective on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $83.20.

Fortune Brands Innovations Trading Up 0.6 %

Shares of FBIN opened at $87.55 on Wednesday. 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 $54.10 and a 12 month high of $88.22. The stock has a market cap of $10.95 billion, a PE ratio of 26.77, a P/E/G ratio of 2.50 and a beta of 1.51. The stock’s 50-day moving average is $78.07 and its two-hundred day moving average is $74.72.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $1.07 earnings per share. Fortune Brands Innovations’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be given 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 1.10%. Fortune Brands Innovations’s payout ratio is currently 29.36%.

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.