North Growth Management Ltd. Buys 1,000 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

North Growth Management Ltd. raised its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 115,000 shares of the company’s stock after acquiring an additional 1,000 shares during the period. North Growth Management Ltd. owned approximately 0.09% of Fortune Brands Innovations worth $7,441,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Securities Inc. acquired a new stake in shares of Fortune Brands Innovations in the 4th quarter worth about $29,000. Family Firm Inc. bought a new position in shares of Fortune Brands Innovations in the second quarter valued at approximately $31,000. LRI Investments LLC purchased a new position in shares of Fortune Brands Innovations during the first quarter valued at approximately $34,000. First United Bank & Trust bought a new stake in Fortune Brands Innovations during the fourth quarter worth $38,000. Finally, Rise Advisors LLC purchased a new stake in Fortune Brands Innovations in the 1st quarter valued at $38,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN traded up $3.08 during trading on Friday, reaching $81.38. 1,263,929 shares of the stock traded hands, compared to its average volume of 1,229,051. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The stock has a market capitalization of $10.18 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 2.49 and a beta of 1.52. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $84.92. The company has a 50-day moving average of $71.43 and a 200-day moving average of $74.64.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.12 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.28 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. Analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Friday, August 23rd. Fortune Brands Innovations’s payout ratio is presently 29.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Evercore ISI reduced their price objective on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research report on Wednesday, May 1st. Barclays lifted their target price on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Robert W. Baird upped their target price on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada increased their price target on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $83.20.

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.