Blair William & Co. IL Has $649,000 Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Blair William & Co. IL grew its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,997 shares of the company’s stock after buying an additional 461 shares during the quarter. Blair William & Co. IL’s holdings in Fortune Brands Innovations were worth $649,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Family Firm Inc. purchased a new stake in Fortune Brands Innovations in the 2nd quarter valued at $31,000. LRI Investments LLC purchased a new stake in shares of Fortune Brands Innovations in the first quarter valued at about $34,000. Brown Brothers Harriman & Co. lifted its position in shares of Fortune Brands Innovations by 526.5% during the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after purchasing an additional 437 shares in the last quarter. Rise Advisors LLC bought a new position in shares of Fortune Brands Innovations during the first quarter valued at about $38,000. Finally, ICA Group Wealth Management LLC purchased a new position in Fortune Brands Innovations during the fourth quarter worth about $41,000. 87.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on FBIN. Royal Bank of Canada lifted 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 research report on Friday, July 26th. Loop Capital cut their price objective on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. The Goldman Sachs Group raised their target price on Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Barclays boosted their price target on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Truist Financial raised their price objective on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations presently has an average rating of “Hold” and a consensus target price of $83.20.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $86.47 on Thursday. The firm has a market cap of $10.82 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 2.74 and a beta of 1.51. 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 company’s 50 day moving average is $78.32 and its 200-day moving average is $74.80. Fortune Brands Innovations, Inc. has a 12-month low of $54.10 and a 12-month high of $88.22.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.07 earnings per share. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is presently 29.36%.

About Fortune Brands Innovations

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.