Farther Finance Advisors LLC cut its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) by 34.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,071 shares of the company’s stock after selling 1,103 shares during the quarter. Farther Finance Advisors LLC’s holdings in Fortune Brands Innovations were worth $185,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Family Firm Inc. bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter valued at $31,000. LRI Investments LLC acquired a new position in Fortune Brands Innovations during the first quarter worth $34,000. Brown Brothers Harriman & Co. increased its position in shares of Fortune Brands Innovations by 526.5% in the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after acquiring an additional 437 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $51,000. Finally, Rothschild Investment LLC bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter valued at about $54,000. Institutional investors own 87.60% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on the stock. Evercore ISI reduced 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 report on Thursday. JPMorgan Chase & Co. upped their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group increased their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. BMO Capital Markets raised their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Truist Financial increased 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 report on Thursday. Seven 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, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus price target of $91.36.
Fortune Brands Innovations Price Performance
Shares of NYSE:FBIN opened at $79.05 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average is $84.99 and its 200-day moving average is $76.33. Fortune Brands Innovations, Inc. has a twelve month low of $59.72 and a twelve month high of $90.54. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 2.66 and a beta of 1.51.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last released 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 22.44% and a net margin of 9.61%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the firm posted $1.19 EPS. Fortune Brands Innovations’s quarterly revenue 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 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 paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is 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.
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