2,958 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Bought by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the third quarter, Holdings Channel reports. The institutional investor purchased 2,958 shares of the company’s stock, valued at approximately $261,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc increased its stake in shares of Fortune Brands Innovations by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after buying an additional 121 shares during the period. Smithfield Trust Co raised its holdings in shares of Fortune Brands Innovations by 4.6% in the 3rd quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock valued at $271,000 after purchasing an additional 133 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Fortune Brands Innovations by 2.9% during the third quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock worth $502,000 after purchasing an additional 164 shares in the last quarter. Summit Trail Advisors LLC grew its stake in shares of Fortune Brands Innovations by 2.4% during the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock worth $474,000 after purchasing an additional 169 shares in the last quarter. Finally, CWM LLC increased its holdings in Fortune Brands Innovations by 8.3% in the third quarter. CWM LLC now owns 2,199 shares of the company’s stock valued at $197,000 after buying an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

FBIN has been the subject of several analyst reports. Evercore ISI lowered their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. BMO Capital Markets upped their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Jefferies Financial Group raised their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. UBS Group reduced their price objective on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Truist Financial increased their target price 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. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of “Hold” and a consensus target price of $91.36.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN opened at $74.93 on Tuesday. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 2.51 and a beta of 1.47. The company has a 50-day simple moving average of $81.42 and a 200-day simple moving average of $77.21. 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 quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the firm earned $1.19 EPS. On average, analysts predict that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.25 dividend. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s payout ratio is currently 28.17%.

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.