Commerce Bank Has $2.48 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Commerce Bank increased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 8.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 27,646 shares of the company’s stock after acquiring an additional 2,192 shares during the quarter. Commerce Bank’s holdings in Fortune Brands Innovations were worth $2,475,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FBIN. Van ECK Associates Corp increased its position in 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 acquiring an additional 34,184 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Fortune Brands Innovations by 17.2% in the first 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 period. Qsemble Capital Management LP increased its stake in shares of Fortune Brands Innovations by 1,091.8% in the second quarter. Qsemble Capital Management LP now owns 28,459 shares of the company’s stock valued at $1,848,000 after buying an additional 26,071 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Fortune Brands Innovations in the second quarter valued at about $421,000. Finally, Teca Partners LP increased its stake in shares of Fortune Brands Innovations by 165.0% in the second quarter. Teca Partners LP now owns 233,229 shares of the company’s stock valued at $15,146,000 after buying an additional 145,229 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group decreased their target price on shares of 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. 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. 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. BMO Capital Markets increased their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group increased their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $91.36.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $76.50 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The stock has a 50-day moving average of $84.29 and a 200-day moving average of $76.49. The company has a market cap of $9.50 billion, a PE ratio of 21.55, a P/E/G ratio of 2.43 and a beta of 1.51. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data 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 22.22% and a net margin of 9.61%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the firm posted $1.19 earnings per share. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is presently 27.04%.

Fortune Brands Innovations 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.