Fulton Breakefield Broenniman LLC Acquires New Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Fulton Breakefield Broenniman LLC acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,770 shares of the company’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Family Firm Inc. acquired a new position in Fortune Brands Innovations in the 2nd quarter valued at about $31,000. LRI Investments LLC acquired a new position in Fortune Brands Innovations in the 1st quarter valued at about $34,000. Brown Brothers Harriman & Co. grew its position in Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after acquiring an additional 437 shares in the last quarter. Rise Advisors LLC acquired a new position in Fortune Brands Innovations in the 1st quarter valued at about $38,000. Finally, Optimum Investment Advisors acquired a new position in Fortune Brands Innovations in the 1st quarter valued at about $42,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $89.99 on Thursday. The stock has a 50 day moving average price of $82.27 and a 200 day moving average price of $75.47. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $11.26 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 2.79 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 earnings per share. Research analysts predict that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is currently 29.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial lifted their target price on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 26th. The Goldman Sachs Group lifted their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada boosted their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Barclays boosted their price objective on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group boosted their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and an average price target of $88.10.

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.