Cary Street Partners Investment Advisory LLC purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,080 shares of the company’s stock, valued at approximately $366,000.
A number of other large investors have also recently modified their holdings of FBIN. Dimensional Fund Advisors LP purchased a new position in Fortune Brands Innovations in the second quarter worth $142,667,000. Bank of New York Mellon Corp bought a new position in shares of Fortune Brands Innovations during the 2nd quarter valued at about $106,931,000. Giverny Capital Inc. purchased a new position in shares of Fortune Brands Innovations during the 2nd quarter valued at about $64,888,000. Nordea Investment Management AB bought a new stake in Fortune Brands Innovations in the 2nd quarter worth approximately $64,757,000. Finally, Fort Washington Investment Advisors Inc. OH purchased a new stake in Fortune Brands Innovations in the second quarter worth approximately $61,179,000. Institutional investors own 87.20% of the company’s stock.
Fortune Brands Innovations Stock Performance
Shares of FBIN opened at $66.10 on Tuesday. The company has a 50-day simple moving average of $61.11 and a two-hundred day simple moving average of $65.72. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.80 and a quick ratio of 1.02. The firm has a market capitalization of $8.33 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 3.63 and a beta of 1.54. Fortune Brands Innovations, Inc. has a one year low of $49.51 and a one year high of $77.14.
Fortune Brands Innovations Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Friday, November 24th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.39%. The ex-dividend date is Wednesday, November 22nd. Fortune Brands Innovations’s payout ratio is currently 27.22%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on FBIN. Jefferies Financial Group cut their price objective on shares of Fortune Brands Innovations from $90.00 to $88.00 in a research note on Thursday, October 12th. The Goldman Sachs Group reduced their price objective on Fortune Brands Innovations from $77.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Truist Financial reduced their price target on Fortune Brands Innovations from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. BMO Capital Markets increased their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Finally, Barclays dropped their price target on shares of Fortune Brands Innovations from $74.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $67.75.
Fortune Brands Innovations 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 two segments: Water Innovations; and Outdoors & Security. The Water Innovations segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, and Shaws brands.
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