Louisiana State Employees Retirement System Has $3.08 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Louisiana State Employees Retirement System lessened its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.8% in the third quarter, HoldingsChannel.com reports. The fund owned 34,400 shares of the company’s stock after selling 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Fortune Brands Innovations were worth $3,080,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Choreo LLC boosted its holdings in shares of Fortune Brands Innovations by 2.9% in the 1st quarter. Choreo LLC now owns 5,701 shares of the company’s stock valued at $483,000 after purchasing an additional 163 shares in the last quarter. Wedmont Private Capital grew its position in Fortune Brands Innovations by 2.9% in the third quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock valued at $502,000 after acquiring an additional 164 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Fortune Brands Innovations by 2.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock worth $665,000 after acquiring an additional 168 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in shares of Fortune Brands Innovations by 2.4% in the 2nd quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock valued at $474,000 after purchasing an additional 169 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Fortune Brands Innovations by 8.3% during the 3rd quarter. CWM LLC now owns 2,199 shares of the company’s stock valued at $197,000 after purchasing an additional 169 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 2.7 %

FBIN stock opened at $85.49 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. Fortune Brands Innovations, Inc. has a fifty-two week low of $54.10 and a fifty-two week high of $90.54. The stock’s 50 day simple moving average is $84.12 and its 200 day simple moving average is $75.76. The company has a market cap of $10.69 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 2.76 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. Fortune Brands Innovations’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $1.07 EPS. On average, research analysts expect that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is 29.36%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Robert W. Baird raised their target price on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Loop Capital reduced 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. Royal Bank of Canada upped their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. The Goldman Sachs Group lifted their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $90.20.

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.