2,252 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Bought by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC purchased a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the third quarter, Holdings Channel reports. The firm purchased 2,252 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors have also recently bought and sold shares of the company. Select Equity Group L.P. increased its position in shares of Fortune Brands Innovations by 48.8% during the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after acquiring an additional 2,075,673 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Fortune Brands Innovations by 12,402.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock worth $21,921,000 after purchasing an additional 334,865 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Fortune Brands Innovations in the second quarter valued at approximately $20,857,000. Robeco Schweiz AG boosted its position in shares of Fortune Brands Innovations by 26.5% during the second quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock valued at $58,873,000 after buying an additional 189,635 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Fortune Brands Innovations by 71.0% during the second quarter. AQR Capital Management LLC now owns 415,255 shares of the company’s stock worth $26,967,000 after buying an additional 172,435 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analysts Set New Price Targets

FBIN has been the topic of several recent analyst reports. Jefferies Financial Group raised their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI dropped their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday. BMO Capital Markets upped their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Truist Financial lifted their target price on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Barclays upped their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Seven investment 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, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $79.12 on Friday. The business’s 50 day simple moving average is $85.00 and its 200 day simple moving average is $76.28. Fortune Brands Innovations, Inc. has a 12 month low of $59.72 and a 12 month high of $90.54. The company has a market cap of $9.82 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.65 and a beta of 1.51. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 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.