B. Metzler seel. Sohn & Co. Holding AG Purchases Shares of 13,539 Fortune Brands Innovations, Inc. (NYSE:FBIN)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,539 shares of the company’s stock, valued at approximately $1,212,000.

Several other institutional investors also recently modified their holdings of the business. O Shaughnessy Asset Management LLC lifted its holdings in Fortune Brands Innovations by 11.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,547 shares of the company’s stock worth $724,000 after buying an additional 909 shares during the period. UniSuper Management Pty Ltd boosted its holdings in Fortune Brands Innovations by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 1,800 shares of the company’s stock valued at $152,000 after acquiring an additional 900 shares during the last quarter. Bessemer Group Inc. increased its position in Fortune Brands Innovations by 809.4% during the 1st quarter. Bessemer Group Inc. now owns 2,992 shares of the company’s stock valued at $253,000 after purchasing an additional 2,663 shares during the period. LRI Investments LLC acquired a new stake in Fortune Brands Innovations during the 1st quarter valued at approximately $34,000. Finally, Zurich Insurance Group Ltd FI bought a new position in Fortune Brands Innovations during the 1st quarter worth approximately $1,372,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Up 1.3 %

Fortune Brands Innovations stock opened at $76.50 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average price is $84.29 and its two-hundred day moving average price is $76.46. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 2.36 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 EPS. On average, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is currently 27.04%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FBIN. Barclays increased their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Jefferies Financial Group upped their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets raised their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group increased their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and an average target price of $91.36.

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.