UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $111.65 Million Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 11.7% in the third quarter, HoldingsChannel.com reports. The firm owned 1,247,069 shares of the company’s stock after acquiring an additional 130,170 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Fortune Brands Innovations were worth $111,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at $25,000. Family Firm Inc. bought a new stake in Fortune Brands Innovations in the second quarter valued at about $31,000. Brown Brothers Harriman & Co. raised its position in Fortune Brands Innovations by 526.5% in the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after purchasing an additional 437 shares in the last quarter. Rothschild Investment LLC bought a new position in Fortune Brands Innovations during the second quarter worth about $54,000. Finally, Blue Trust Inc. boosted its holdings in Fortune Brands Innovations by 37.0% during the second quarter. Blue Trust Inc. now owns 899 shares of the company’s stock valued at $58,000 after purchasing an additional 243 shares in the last quarter. 87.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FBIN shares. UBS Group cut their target price on 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. Truist Financial boosted 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 note on Thursday, November 7th. Evercore ISI dropped their target price on shares of 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. Jefferies Financial Group boosted their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Robert W. Baird dropped their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $91.36.

Fortune Brands Innovations Stock Up 0.4 %

NYSE FBIN opened at $78.30 on Monday. The stock has a market capitalization of $9.73 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week high of $90.54. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The stock has a fifty day moving average of $83.58 and a 200-day moving average of $76.64.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. The firm 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 company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.19 EPS. On average, equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 EPS 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. Shareholders 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 dividend on an annualized basis and a yield of 1.23%. Fortune Brands Innovations’s payout ratio is presently 27.04%.

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.