Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Bought by Managed Asset Portfolios LLC

Managed Asset Portfolios LLC lifted its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 10.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,843 shares of the company’s stock after purchasing an additional 6,518 shares during the quarter. Managed Asset Portfolios LLC owned 0.06% of Fortune Brands Innovations worth $6,253,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Family Firm Inc. acquired a new position in Fortune Brands Innovations in the 2nd quarter worth about $31,000. LRI Investments LLC acquired a new position in shares of Fortune Brands Innovations during the 1st quarter worth approximately $34,000. Brown Brothers Harriman & Co. lifted its position in shares of Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after buying an additional 437 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in Fortune Brands Innovations in the 1st quarter valued at $51,000. Finally, Rothschild Investment LLC purchased a new stake in Fortune Brands Innovations in the 2nd quarter worth $54,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $76.50 on Friday. 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 company has a market capitalization of $9.50 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 2.43 and a beta of 1.51. The firm’s 50-day moving average is $84.29 and its two-hundred day moving average is $76.49. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 EPS. Analysts predict that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors 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 1.25%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is 27.04%.

Analysts Set New Price Targets

Several research firms have issued reports on FBIN. JPMorgan Chase & Co. increased their price objective on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. 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. The Goldman Sachs Group boosted their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Evercore ISI lowered their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Finally, BMO Capital Markets increased their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $91.36.

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.