Thrivent Financial for Lutherans Sells 1,065 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Thrivent Financial for Lutherans lowered its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 29,391 shares of the company’s stock after selling 1,065 shares during the period. Thrivent Financial for Lutherans’ holdings in Fortune Brands Innovations were worth $2,631,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in Fortune Brands Innovations during the second quarter worth $31,000. LRI Investments LLC purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at $34,000. Brown Brothers Harriman & Co. raised its stake 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 period. Pathway Financial Advisers LLC purchased a new position in shares of Fortune Brands Innovations in the 1st quarter worth about $51,000. Finally, Rothschild Investment LLC bought a new position in Fortune Brands Innovations during the second quarter valued at about $54,000. 87.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial boosted their target price on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird dropped their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. The Goldman Sachs Group raised their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. BMO Capital Markets upped their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Evercore ISI cut their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $91.36.

Fortune Brands Innovations Stock Down 3.7 %

Shares of NYSE FBIN opened at $77.98 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. The company has a market cap of $9.69 billion, a P/E ratio of 21.97, a P/E/G ratio of 2.45 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week high of $90.54. The business has a 50-day simple moving average of $84.23 and a two-hundred day simple moving average of $76.55.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 earnings per share. Research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.23%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 27.04%.

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.