Venture Visionary Partners LLC Takes Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Venture Visionary Partners LLC purchased a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the third quarter, HoldingsChannel reports. The fund purchased 2,672 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds have also recently bought and sold shares of the company. Family Firm Inc. acquired a new position in Fortune Brands Innovations during the second quarter worth about $31,000. LRI Investments LLC purchased a new position in shares of Fortune Brands Innovations during the 1st quarter worth approximately $34,000. Brown Brothers Harriman & Co. raised its position in shares of Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after purchasing an additional 437 shares during the last quarter. Pathway Financial Advisers LLC purchased a new stake in Fortune Brands Innovations in the 1st quarter valued at approximately $51,000. Finally, Rothschild Investment LLC acquired a new stake in Fortune Brands Innovations during the 2nd quarter valued at $54,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Down 0.9 %

Shares of NYSE FBIN opened at $86.66 on Thursday. The stock has a market capitalization of $10.84 billion, a PE ratio of 26.50, a P/E/G ratio of 2.79 and a beta of 1.51. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The firm has a fifty day moving average of $83.52 and a 200-day moving average of $75.61. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.07 earnings per share. On average, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently announced 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is currently 29.36%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FBIN shares. Jefferies Financial Group upped their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets upped their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday. Robert W. Baird lifted their price target on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday. Truist Financial upped their price objective on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada lifted 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. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $90.20.

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.