12,429 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Acquired by Caxton Associates LP

Caxton Associates LP acquired a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 12,429 shares of the company’s stock, valued at approximately $807,000.

Other institutional investors have also added to or reduced their stakes in the company. Fiduciary Management Inc. WI boosted its position in shares of Fortune Brands Innovations by 19.4% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,986,070 shares of the company’s stock worth $151,219,000 after acquiring an additional 322,472 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Fortune Brands Innovations in the 2nd quarter worth $20,857,000. KBC Group NV boosted its holdings in shares of Fortune Brands Innovations by 2,809.5% during the 4th quarter. KBC Group NV now owns 212,335 shares of the company’s stock valued at $16,167,000 after purchasing an additional 205,037 shares during the last quarter. Robeco Schweiz AG grew its position in shares of 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings 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 worth $119,501,000 after purchasing an additional 167,758 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FBIN. Truist Financial increased their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays raised their target price 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. Royal Bank of Canada boosted 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. Loop Capital lowered their price objective 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $83.20.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN opened at $87.68 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. Fortune Brands Innovations, Inc. has a 12 month low of $54.10 and a 12 month high of $88.99. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.74 and a beta of 1.51. The firm’s 50-day moving average is $78.61 and its 200 day moving average is $74.89.

Fortune Brands Innovations (NYSE:FBIN) last released 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. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Research analysts predict that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders 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 yield of 1.09%. Fortune Brands Innovations’s payout ratio is 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.