Signaturefd LLC Increases Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Signaturefd LLC raised its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 10.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,092 shares of the company’s stock after purchasing an additional 191 shares during the quarter. Signaturefd LLC’s holdings in Fortune Brands Innovations were worth $187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Choreo LLC increased its stake in shares of Fortune Brands Innovations by 2.9% in the first quarter. Choreo LLC now owns 5,701 shares of the company’s stock worth $483,000 after buying an additional 163 shares during the last quarter. Wedmont Private Capital increased its position in shares of Fortune Brands Innovations by 2.9% in the 3rd quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock worth $502,000 after purchasing an additional 164 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Fortune Brands Innovations by 2.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock valued at $665,000 after purchasing an additional 168 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of Fortune Brands Innovations by 2.4% during the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock worth $474,000 after purchasing an additional 169 shares during the last quarter. Finally, CWM LLC grew its stake in Fortune Brands Innovations by 8.3% in the third quarter. CWM LLC now owns 2,199 shares of the company’s stock worth $197,000 after purchasing an additional 169 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on FBIN. Truist Financial increased their target price on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Jefferies Financial Group lifted their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets lifted their price target 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, October 22nd. Royal Bank of Canada raised 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. Finally, Robert W. Baird lifted their target price on Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a research note 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, Fortune Brands Innovations has a consensus rating of “Hold” and an average price target of $90.20.

Fortune Brands Innovations Trading Down 2.7 %

Shares of FBIN stock opened at $85.49 on Monday. Fortune Brands Innovations, Inc. has a 1 year low of $54.10 and a 1 year high of $90.54. The firm has a market capitalization of $10.69 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 2.76 and a beta of 1.51. The stock has a fifty day moving average of $84.12 and a two-hundred day moving average of $75.76. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34.

Fortune Brands Innovations (NYSE:FBIN) last announced its 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. 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 analyst estimates of $1.28 billion. During the same quarter in the prior year, the firm posted $1.07 EPS. Fortune Brands Innovations’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts expect that Fortune Brands Innovations, Inc. will post 4.29 EPS 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 $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.36%.

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.