Darwin Wealth Management LLC Acquires Shares of 900 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Darwin Wealth Management LLC acquired a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 900 shares of the company’s stock, valued at approximately $81,000.

A number of other institutional investors have also modified their holdings of FBIN. Commerce Bank grew its position in shares of Fortune Brands Innovations by 8.6% during the 3rd quarter. Commerce Bank now owns 27,646 shares of the company’s stock valued at $2,475,000 after acquiring an additional 2,192 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at about $1,212,000. Natixis Advisors LLC grew its position in shares of Fortune Brands Innovations by 20.7% during the 3rd quarter. Natixis Advisors LLC now owns 58,728 shares of the company’s stock valued at $5,258,000 after acquiring an additional 10,069 shares during the period. Empowered Funds LLC grew its position in shares of Fortune Brands Innovations by 5.8% during the 3rd quarter. Empowered Funds LLC now owns 8,224 shares of the company’s stock valued at $736,000 after acquiring an additional 452 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of Fortune Brands Innovations by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock valued at $323,000 after acquiring an additional 121 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 1.8 %

Shares of Fortune Brands Innovations stock opened at $74.89 on Thursday. The stock has a market cap of $9.30 billion, a P/E ratio of 21.10, a P/E/G ratio of 2.37 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The stock’s 50 day simple moving average is $84.53 and its 200-day simple moving average is $76.45. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (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 company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the company earned $1.19 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. Analysts predict that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is currently 27.04%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FBIN shares. Robert W. Baird dropped their target price on 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. Jefferies Financial Group lifted their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Truist Financial lifted their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays lifted their price objective on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $91.36.

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.