Fortune Brands Innovations, Inc. (NYSE:FBIN) Position Increased by Blue Trust Inc.

Blue Trust Inc. lifted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 35.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,217 shares of the company’s stock after acquiring an additional 318 shares during the period. Blue Trust Inc.’s holdings in Fortune Brands Innovations were worth $109,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Select Equity Group L.P. grew its position in 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 worth $410,866,000 after purchasing an additional 2,075,673 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Fortune Brands Innovations by 10.0% during the second 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 lifted its stake in Fortune Brands Innovations by 6.8% in the 1st quarter. Nordea Investment Management AB now owns 1,480,177 shares of the company’s stock worth $125,386,000 after acquiring an additional 94,022 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Fortune Brands Innovations by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company’s stock worth $89,507,000 after acquiring an additional 24,139 shares in the last quarter. Finally, Robeco Schweiz AG boosted its position in Fortune Brands Innovations by 26.5% during the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock worth $58,873,000 after acquiring an additional 189,635 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FBIN. Royal Bank of Canada upped their target price on 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 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 research report on Friday, July 26th. Robert W. Baird boosted their price target on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Loop Capital cut their price objective on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. Finally, The Goldman Sachs Group lifted their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $90.20.

Fortune Brands Innovations Stock Performance

FBIN opened at $86.98 on Tuesday. 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 stock’s 50 day moving average price is $84.32 and its two-hundred day moving average price is $75.82. The firm has a market capitalization of $10.88 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 2.76 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 12-month low of $54.88 and a 12-month high of $90.54.

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 paid a $0.24 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.96 annualized dividend and a dividend yield of 1.10%. Fortune Brands Innovations’s payout ratio is 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.