Assenagon Asset Management S.A. increased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) by 3.4% during the fourth quarter, HoldingsChannel reports. The firm owned 11,754 shares of the company’s stock after buying an additional 385 shares during the period. Assenagon Asset Management S.A.’s holdings in Fortune Brands Innovations were worth $803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of FBIN. Brooklyn Investment Group bought a new position in Fortune Brands Innovations during the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. grew its stake in shares of Fortune Brands Innovations by 31.7% in the third quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock worth $80,000 after acquiring an additional 216 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Fortune Brands Innovations during the third quarter valued at approximately $81,000. Quarry LP lifted its position in Fortune Brands Innovations by 3,069.0% during the second quarter. Quarry LP now owns 919 shares of the company’s stock valued at $60,000 after purchasing an additional 890 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Fortune Brands Innovations by 35.4% in the third quarter. Blue Trust Inc. now owns 1,217 shares of the company’s stock worth $109,000 after purchasing an additional 318 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.
Fortune Brands Innovations Stock Performance
FBIN opened at $72.51 on Friday. The company has a 50 day simple moving average of $73.49 and a two-hundred day simple moving average of $77.97. 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 firm has a market cap of $9.01 billion, a P/E ratio of 20.43, a PEG ratio of 2.17 and a beta of 1.49. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54.
Fortune Brands Innovations Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.38%. The ex-dividend date is Friday, February 21st. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.
Wall Street Analysts Forecast Growth
FBIN has been the topic of several research analyst reports. UBS Group lowered their price target on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. The Goldman Sachs Group dropped their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group boosted their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets increased their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Barclays reduced their target price on shares of Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of “Hold” and a consensus target price of $89.36.
Check Out Our Latest Stock Analysis on FBIN
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.
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