Country Club Bank Takes Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Country Club Bank purchased a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,400 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds have also modified their holdings of the company. Family Firm Inc. bought a new position in Fortune Brands Innovations in the second quarter valued at approximately $31,000. LRI Investments LLC bought a new position in Fortune Brands Innovations in the first quarter valued at approximately $34,000. Brown Brothers Harriman & Co. boosted its stake in Fortune Brands Innovations by 526.5% in the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after acquiring an additional 437 shares during the last quarter. Pathway Financial Advisers LLC bought a new position in Fortune Brands Innovations in the first quarter valued at approximately $51,000. Finally, Rothschild Investment LLC bought a new position in Fortune Brands Innovations in the second quarter valued at approximately $54,000. 87.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FBIN shares. Barclays raised their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Royal Bank of Canada increased 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 report on Friday, July 26th. Truist Financial increased their target price on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 26th. 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 report on Tuesday, July 30th. Finally, Robert W. Baird increased their target price on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $90.20.

Fortune Brands Innovations Trading Down 2.7 %

Shares of NYSE:FBIN opened at $85.49 on Friday. Fortune Brands Innovations, Inc. has a 12 month low of $54.10 and a 12 month high of $90.54. 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 company’s fifty day simple moving average is $84.12 and its 200 day simple moving average is $75.77. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 2.76 and a beta of 1.51.

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

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 27.20%.

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.