Northwest & Ethical Investments L.P. Raises Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Northwest & Ethical Investments L.P. increased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 22.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 42,240 shares of the company’s stock after purchasing an additional 7,673 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Fortune Brands Innovations were worth $3,782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its stake in Fortune Brands Innovations by 1,074.0% in the second quarter. Van ECK Associates Corp now owns 37,367 shares of the company’s stock worth $2,426,000 after purchasing an additional 34,184 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Fortune Brands Innovations by 17.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock worth $5,052,000 after acquiring an additional 8,836 shares during the last quarter. Qsemble Capital Management LP grew its stake in shares of Fortune Brands Innovations by 1,091.8% in the second quarter. Qsemble Capital Management LP now owns 28,459 shares of the company’s stock worth $1,848,000 after acquiring an additional 26,071 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Fortune Brands Innovations in the second quarter worth $421,000. Finally, Teca Partners LP grew its stake in shares of Fortune Brands Innovations by 165.0% in the second quarter. Teca Partners LP now owns 233,229 shares of the company’s stock worth $15,146,000 after acquiring an additional 145,229 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Down 0.0 %

FBIN stock opened at $77.97 on Friday. The business’s 50-day moving average is $83.95 and its two-hundred day moving average is $76.58. 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, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 2.50 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data 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 the consensus estimate of $1.24 billion. During the same quarter last year, the company earned $1.19 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays increased their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Truist Financial increased their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group upped their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird lowered their price target on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, UBS Group lowered their price target on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $91.36.

Fortune Brands Innovations 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.