D.A. Davidson & CO. Boosts Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

D.A. Davidson & CO. lifted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,874 shares of the company’s stock after buying an additional 475 shares during the quarter. D.A. Davidson & CO.’s holdings in Fortune Brands Innovations were worth $7,420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Comerica Bank boosted its position in shares of Fortune Brands Innovations by 1.2% during the 1st quarter. Comerica Bank now owns 66,543 shares of the company’s stock valued at $5,634,000 after acquiring an additional 784 shares during the last quarter. LRI Investments LLC bought a new stake in Fortune Brands Innovations during the first quarter valued at approximately $34,000. Swedbank AB purchased a new position in Fortune Brands Innovations in the 1st quarter worth approximately $4,884,000. PGGM Investments increased its holdings in shares of Fortune Brands Innovations by 412.6% in the 1st quarter. PGGM Investments now owns 43,628 shares of the company’s stock worth $3,694,000 after buying an additional 35,117 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at $51,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

FBIN stock opened at $77.97 on Thursday. Fortune Brands Innovations, Inc. has a 1 year low of $62.54 and a 1 year high of $90.54. The firm has a 50-day moving average of $84.08 and a 200 day moving average of $76.57. 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 cap of $9.69 billion, a P/E ratio of 21.96, a PEG ratio of 2.59 and a beta of 1.51.

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

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a $0.24 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.96 annualized dividend and a dividend yield of 1.23%. Fortune Brands Innovations’s payout ratio is 27.04%.

Analysts Set New Price Targets

Several brokerages recently issued reports on FBIN. Barclays upped 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 report on Wednesday, October 9th. UBS Group cut their price objective 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. Jefferies Financial Group raised their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Truist Financial increased their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets increased their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Seven equities 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, Fortune Brands Innovations has an average rating of “Hold” and an average price target 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.