Bleakley Financial Group LLC Has $1.52 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Bleakley Financial Group LLC increased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 16,932 shares of the company’s stock after purchasing an additional 644 shares during the period. Bleakley Financial Group LLC’s holdings in Fortune Brands Innovations were worth $1,516,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Select Equity Group L.P. boosted its stake in shares of Fortune Brands Innovations by 48.8% during the 2nd quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock valued at $410,866,000 after buying an additional 2,075,673 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Fortune Brands Innovations by 10.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,840,067 shares of the company’s stock valued at $119,501,000 after buying an additional 167,758 shares during the period. Nordea Investment Management AB boosted its stake in shares of Fortune Brands Innovations by 6.8% during the 1st quarter. Nordea Investment Management AB now owns 1,480,177 shares of the company’s stock valued at $125,386,000 after buying an additional 94,022 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Fortune Brands Innovations by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company’s stock valued at $89,507,000 after buying an additional 24,139 shares during the period. Finally, Robeco Schweiz AG boosted its stake in shares of Fortune Brands Innovations by 26.5% during the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock valued at $58,873,000 after buying an additional 189,635 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $90.01 on Friday. The company has a market capitalization of $11.26 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.79 and a beta of 1.51. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $90.54. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The company’s fifty day moving average price is $82.92 and its 200 day moving average price is $75.56.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, July 25th. The company reported $1.16 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $1.07 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, analysts expect that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.96 annualized dividend and a dividend yield of 1.07%. Fortune Brands Innovations’s payout ratio is 29.36%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on FBIN shares. Royal Bank of Canada raised their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Truist Financial raised their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 26th. Loop Capital cut their price target on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Friday, July 12th. JPMorgan Chase & Co. raised their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Barclays raised their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $88.10.

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.