Park National Corp OH Invests $271,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Park National Corp OH bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,022 shares of the company’s stock, valued at approximately $271,000.

Several other hedge funds also recently modified their holdings of the business. Advisory Services Network LLC acquired a new position in shares of Fortune Brands Innovations in the fourth quarter valued at $216,000. TD Asset Management Inc grew its position in Fortune Brands Innovations by 27.8% in the fourth quarter. TD Asset Management Inc now owns 12,146 shares of the company’s stock valued at $925,000 after acquiring an additional 2,645 shares during the period. Rafferty Asset Management LLC grew its position in Fortune Brands Innovations by 26.9% in the fourth quarter. Rafferty Asset Management LLC now owns 38,795 shares of the company’s stock valued at $2,954,000 after acquiring an additional 8,223 shares during the period. Royal London Asset Management Ltd. raised its stake in Fortune Brands Innovations by 23.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 53,238 shares of the company’s stock worth $4,054,000 after acquiring an additional 10,171 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Fortune Brands Innovations by 118.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 19,616 shares of the company’s stock valued at $1,494,000 after acquiring an additional 10,656 shares during the period. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Stock Performance

Shares of Fortune Brands Innovations stock opened at $87.80 on Friday. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week high of $90.54. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 2.74 and a beta of 1.51. The firm has a fifty day moving average of $80.03 and a two-hundred day moving average of $75.07.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 earnings per share. As a group, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.24 per share. 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 1.09%. Fortune Brands Innovations’s dividend payout ratio is 29.36%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FBIN. Truist Financial increased their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their target price on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. 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 research note on Friday, July 26th. JPMorgan Chase & Co. boosted 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. Finally, The Goldman Sachs Group increased their price objective on Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and an average target price of $83.20.

Fortune Brands Innovations Company 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.