Creative Planning Buys 714 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Creative Planning grew its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,706 shares of the company’s stock after purchasing an additional 714 shares during the period. Creative Planning’s holdings in Fortune Brands Innovations were worth $2,122,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Van ECK Associates Corp lifted its stake in shares of Fortune Brands Innovations by 1,074.0% in the 2nd quarter. Van ECK Associates Corp now owns 37,367 shares of the company’s stock valued at $2,426,000 after purchasing an additional 34,184 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Fortune Brands Innovations by 17.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock valued at $5,052,000 after purchasing an additional 8,836 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $624,000. Qsemble Capital Management LP lifted its stake in shares of Fortune Brands Innovations by 1,091.8% during the 2nd 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. Finally, Duality Advisers LP bought a new stake in shares of Fortune Brands Innovations during the 1st quarter worth approximately $5,498,000. 87.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FBIN has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial raised their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their price target on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. The Goldman Sachs Group raised their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Loop Capital decreased their target price on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.20.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $85.49 on Monday. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $90.54. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The business has a fifty day moving average of $84.12 and a two-hundred day moving average of $75.76. The company has a market cap of $10.69 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 2.76 and a beta of 1.51.

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

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is presently 29.36%.

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.