Charles Schwab Investment Management Inc. Boosts Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Charles Schwab Investment Management Inc. lifted its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 853,111 shares of the company’s stock after acquiring an additional 4,248 shares during the period. Charles Schwab Investment Management Inc. owned 0.69% of Fortune Brands Innovations worth $76,379,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Family Firm Inc. purchased a new stake in Fortune Brands Innovations during the second quarter valued at about $31,000. LRI Investments LLC purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter worth about $34,000. Brown Brothers Harriman & Co. increased its position in Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after purchasing an additional 437 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Fortune Brands Innovations in the first quarter valued at approximately $51,000. Finally, Rothschild Investment LLC acquired a new position in Fortune Brands Innovations during the second quarter valued at approximately $54,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FBIN has been the topic of a number of research reports. BMO Capital Markets raised their target price 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. Truist Financial upped their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group raised their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays upped their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their price objective on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $77.97 on Thursday. The firm has a fifty day moving average of $84.08 and a two-hundred day moving average of $76.57. The firm has a market cap of $9.69 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.59 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. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.24 billion. During the same period in the previous year, the company earned $1.19 earnings per share. Fortune Brands Innovations’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend 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.