2,538 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Acquired by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,538 shares of the company’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in shares of Fortune Brands Innovations by 3.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 403,214 shares of the company’s stock worth $30,701,000 after acquiring an additional 13,789 shares during the last quarter. Park Avenue Securities LLC bought a new position in Fortune Brands Innovations in the 1st quarter valued at approximately $235,000. Gateway Investment Advisers LLC lifted its stake in Fortune Brands Innovations by 198.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 34,384 shares of the company’s stock valued at $2,911,000 after purchasing an additional 22,858 shares during the last quarter. Sound Income Strategies LLC boosted its position in Fortune Brands Innovations by 312.3% in the first quarter. Sound Income Strategies LLC now owns 1,443 shares of the company’s stock valued at $122,000 after buying an additional 1,093 shares in the last quarter. Finally, Atlas Capital Advisors LLC grew its stake in shares of Fortune Brands Innovations by 6.6% during the first quarter. Atlas Capital Advisors LLC now owns 4,687 shares of the company’s stock worth $397,000 after buying an additional 291 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada lifted their price target on 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. Barclays upped their price objective on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group lifted their target price on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Loop Capital decreased 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. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $88.10.

Fortune Brands Innovations Trading Up 1.3 %

NYSE:FBIN opened at $90.01 on Monday. 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 firm’s fifty day moving average is $82.92 and its 200-day moving average is $75.52. The firm has a market cap of $11.26 billion, a P/E ratio of 27.53, a P/E/G ratio of 2.79 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly 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 net margin of 9.39% and a return on equity of 22.93%. The business 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 business’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities analysts expect that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

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 issued 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 1.07%. Fortune Brands Innovations’s payout ratio is currently 29.36%.

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.