Northwest Quadrant Wealth Management LLC Purchases Shares of 2,360 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Northwest Quadrant Wealth Management LLC acquired a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the third quarter, Holdings Channel reports. The firm acquired 2,360 shares of the company’s stock, valued at approximately $211,000.

Several other institutional investors have also modified their holdings of the company. Family Firm Inc. acquired a new stake in shares of Fortune Brands Innovations during the second quarter worth $31,000. LRI Investments LLC acquired a new stake in Fortune Brands Innovations during the 1st quarter valued at $34,000. Brown Brothers Harriman & Co. lifted 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 in the last quarter. Rise Advisors LLC purchased a new position in Fortune Brands Innovations during the first quarter valued at approximately $38,000. Finally, Optimum Investment Advisors acquired a new position in shares of Fortune Brands Innovations in the first quarter worth $42,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

NYSE:FBIN traded down $0.96 during mid-day trading on Friday, hitting $86.84. 951,501 shares of the company’s stock traded hands, compared to its average volume of 1,199,329. Fortune Brands Innovations, Inc. has a 12 month low of $54.10 and a 12 month high of $90.54. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 2.74 and a beta of 1.51. The firm has a 50 day moving average of $80.51 and a two-hundred day moving average of $75.21. 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 (NYSE:FBIN) last released its earnings results on Thursday, July 25th. The company reported $1.16 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 firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company earned $1.07 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.96 annualized dividend and a yield of 1.11%. Fortune Brands Innovations’s dividend payout ratio is 29.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. The Goldman Sachs Group boosted their target price on Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays increased 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. Loop Capital reduced 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 note on Friday, July 12th. JPMorgan Chase & Co. increased their target price 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, Royal Bank of Canada boosted their price target on 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. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently 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.