2,868 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Purchased by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC purchased a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,868 shares of the company’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Select Equity Group L.P. raised its position in shares of Fortune Brands Innovations by 48.8% during the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock valued at $410,866,000 after buying an additional 2,075,673 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Fortune Brands Innovations by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,840,067 shares of the company’s stock worth $119,501,000 after purchasing an additional 167,758 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Fortune Brands Innovations by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company’s stock valued at $89,507,000 after purchasing an additional 24,139 shares during the last quarter. Robeco Schweiz AG grew its position in shares of Fortune Brands Innovations by 26.5% during the second quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock valued at $58,873,000 after purchasing an additional 189,635 shares in the last quarter. Finally, APG Asset Management N.V. increased its holdings in shares of Fortune Brands Innovations by 1.7% in the second quarter. APG Asset Management N.V. now owns 539,712 shares of the company’s stock worth $32,702,000 after purchasing an additional 9,145 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FBIN. BMO Capital Markets increased their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Barclays raised their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Truist Financial upped their price target 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. The Goldman Sachs Group lifted their price objective on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Robert W. Baird decreased their target price 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. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN opened at $73.95 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month high of $90.54. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.41 and a beta of 1.51. The firm’s 50-day moving average is $84.82 and its 200 day moving average is $76.40.

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

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is currently 27.04%.

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.