LRI Investments LLC bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 402 shares of the company’s stock, valued at approximately $34,000.
Several other institutional investors and hedge funds have also made changes to their positions in FBIN. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Fortune Brands Innovations by 1.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 25,686 shares of the company’s stock worth $1,956,000 after purchasing an additional 395 shares during the last quarter. Blue Trust Inc. raised its position in shares of Fortune Brands Innovations by 34.5% during the 4th quarter. Blue Trust Inc. now owns 873 shares of the company’s stock valued at $66,000 after buying an additional 224 shares during the period. Quent Capital LLC raised its position in shares of Fortune Brands Innovations by 10.6% during the 4th quarter. Quent Capital LLC now owns 2,177 shares of the company’s stock valued at $166,000 after buying an additional 208 shares during the period. Prio Wealth Limited Partnership purchased a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at approximately $201,000. Finally, Oak Thistle LLC raised its position in shares of Fortune Brands Innovations by 5.8% during the 4th quarter. Oak Thistle LLC now owns 7,201 shares of the company’s stock valued at $548,000 after buying an additional 394 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.
Fortune Brands Innovations Stock Up 9.1 %
Fortune Brands Innovations stock opened at $78.74 on Monday. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $84.92. The stock’s fifty day simple moving average is $68.23 and its 200-day simple moving average is $74.79. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $9.85 billion, a P/E ratio of 24.08, a P/E/G ratio of 2.60 and a beta of 1.52.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current fiscal year.
Fortune Brands Innovations Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Friday, August 23rd will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.22%. Fortune Brands Innovations’s payout ratio is currently 29.36%.
Wall Street Analyst Weigh In
Several research firms have recently commented on FBIN. Royal Bank of Canada lifted their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday. Evercore ISI reduced their price target on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, May 1st. Loop Capital reduced their price target on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Truist Financial boosted their target price on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays boosted their target price on Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.11.
Read Our Latest Analysis on FBIN
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.
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