Townsquare Capital LLC Purchases 810 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Townsquare Capital LLC boosted its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 13.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,766 shares of the company’s stock after buying an additional 810 shares during the quarter. Townsquare Capital LLC’s holdings in Fortune Brands Innovations were worth $606,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Fortune Brands Innovations during the third quarter valued at about $25,000. Family Firm Inc. purchased a new stake in Fortune Brands Innovations in the 2nd quarter worth approximately $31,000. Brown Brothers Harriman & Co. lifted its holdings in Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after buying an additional 437 shares during the period. Rothschild Investment LLC bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth approximately $54,000. Finally, Blue Trust Inc. increased its stake in shares of Fortune Brands Innovations by 37.0% during the second quarter. Blue Trust Inc. now owns 899 shares of the company’s stock valued at $58,000 after buying an additional 243 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN opened at $78.71 on Wednesday. The business has a fifty day moving average price of $83.40 and a 200-day moving average price of $76.68. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The company has a market capitalization of $9.78 billion, a PE ratio of 22.17, a PEG ratio of 2.50 and a beta of 1.47. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. Fortune Brands Innovations’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the business earned $1.19 EPS. As a group, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be issued a $0.24 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.22%. Fortune Brands Innovations’s payout ratio is currently 27.04%.

Analysts Set New Price Targets

Several analysts recently weighed in on FBIN shares. Truist Financial lifted their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Robert W. Baird reduced their price target on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Barclays raised their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, UBS Group lowered their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $91.36.

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.