Smithfield Trust Co Buys 133 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Smithfield Trust Co raised its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,031 shares of the company’s stock after purchasing an additional 133 shares during the period. Smithfield Trust Co’s holdings in Fortune Brands Innovations were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Select Equity Group L.P. lifted its position in Fortune Brands Innovations by 48.8% during the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock valued at $410,866,000 after acquiring an additional 2,075,673 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Fortune Brands Innovations by 12,402.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock valued at $21,921,000 after purchasing an additional 334,865 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth $20,857,000. Robeco Schweiz AG grew its stake in Fortune Brands Innovations by 26.5% during the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock worth $58,873,000 after buying an additional 189,635 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Fortune Brands Innovations by 71.0% during the 2nd quarter. AQR Capital Management LLC now owns 415,255 shares of the company’s stock worth $26,967,000 after buying an additional 172,435 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $75.76 on Friday. The business’s 50-day moving average is $84.42 and its two-hundred day moving average is $76.45. The company has a market capitalization of $9.41 billion, a P/E ratio of 21.34, a P/E/G ratio of 2.36 and a beta of 1.51. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32.

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

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is currently 27.04%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FBIN shares. UBS Group lowered their price target on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Barclays lifted their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group upped 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. BMO Capital Markets lifted their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Evercore ISI cut their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.