Atomi Financial Group Inc. acquired a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 2,641 shares of the company’s stock, valued at approximately $236,000.
Several other large investors have also bought and sold shares of FBIN. Select Equity Group L.P. lifted its holdings in shares of Fortune Brands Innovations by 48.8% in the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after acquiring 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 valued at $119,501,000 after purchasing an additional 167,758 shares during the last quarter. Nordea Investment Management AB boosted its position in Fortune Brands Innovations by 6.8% in the first quarter. Nordea Investment Management AB now owns 1,480,177 shares of the company’s stock valued at $125,386,000 after buying an additional 94,022 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Fortune Brands Innovations by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company’s stock worth $89,507,000 after buying an additional 24,139 shares during the last quarter. Finally, Robeco Schweiz AG increased its holdings in Fortune Brands Innovations by 26.5% in the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock worth $58,873,000 after purchasing an additional 189,635 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.
Fortune Brands Innovations Price Performance
Fortune Brands Innovations stock opened at $87.98 on Monday. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week high of $90.54. The company’s 50 day moving average price is $81.31 and its two-hundred day moving average price is $75.30. The stock has a market cap of $11.00 billion, a P/E ratio of 26.91, a P/E/G ratio of 2.79 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.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last announced its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates 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 revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $1.07 EPS. On average, equities 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 given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 annualized dividend and a dividend yield of 1.09%. Fortune Brands Innovations’s dividend payout ratio is currently 29.36%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. The Goldman Sachs Group upped their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group upped their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Royal Bank of Canada boosted their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Truist Financial increased their target price on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $88.10.
Check Out Our Latest Stock Analysis on FBIN
Fortune Brands Innovations Company Profile
(Free Report)
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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