2,922 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,922 shares of the company’s stock, valued at approximately $262,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Fortune Brands Innovations in the 3rd quarter valued at $25,000. Family Firm Inc. bought a new stake in Fortune Brands Innovations during the second quarter valued at $31,000. Brown Brothers Harriman & Co. grew its holdings in Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after acquiring an additional 437 shares during the period. Rothschild Investment LLC bought a new position in shares of Fortune Brands Innovations in the 2nd quarter worth about $54,000. Finally, Blue Trust Inc. lifted its stake in shares of Fortune Brands Innovations by 37.0% in the 2nd quarter. Blue Trust Inc. now owns 899 shares of the company’s stock valued at $58,000 after purchasing an additional 243 shares during the period. Institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Jefferies Financial Group raised their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial lifted their price objective 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. Robert W. Baird reduced their price target on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of 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, Barclays increased their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $91.36.

Fortune Brands Innovations Trading Down 2.0 %

NYSE:FBIN opened at $75.85 on Friday. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The company has a market cap of $9.42 billion, a PE ratio of 21.37, a PEG ratio of 2.51 and a beta of 1.47. 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 firm has a 50-day moving average of $81.66 and a 200-day moving average of $77.04.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 earnings per share. As a group, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, February 21st. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.32%. Fortune Brands Innovations’s payout ratio is 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.