Private Advisor Group LLC Grows Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Private Advisor Group LLC grew its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 25.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,867 shares of the company’s stock after purchasing an additional 1,609 shares during the period. Private Advisor Group LLC’s holdings in Fortune Brands Innovations were worth $704,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Signaturefd LLC lifted its stake in shares of Fortune Brands Innovations by 10.0% in the third quarter. Signaturefd LLC now owns 2,092 shares of the company’s stock worth $187,000 after acquiring an additional 191 shares in the last quarter. Raleigh Capital Management Inc. raised its position in shares of Fortune Brands Innovations by 31.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after purchasing an additional 216 shares in the last quarter. Venture Visionary Partners LLC acquired a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at approximately $239,000. Prio Wealth Limited Partnership purchased a new position in shares of Fortune Brands Innovations during the 3rd quarter valued at approximately $237,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Fortune Brands Innovations by 179.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 16,903 shares of the company’s stock worth $1,513,000 after buying an additional 10,865 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Trading Up 0.6 %

NYSE:FBIN opened at $83.79 on Monday. The firm has a market capitalization of $10.40 billion, a P/E ratio of 23.74, a P/E/G ratio of 2.63 and a beta of 1.51. The business has a 50 day simple moving average of $84.69 and a 200 day simple moving average of $76.03. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. Fortune Brands Innovations, Inc. has a 12-month low of $58.86 and a 12-month high of $90.54.

Fortune Brands Innovations Dividend Announcement

The company 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 dividend of $0.24 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.96 annualized dividend and a dividend yield of 1.15%. Fortune Brands Innovations’s dividend payout ratio is currently 27.20%.

Analyst Ratings Changes

A number of research firms have commented on FBIN. Loop Capital reduced their price objective on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Robert W. Baird increased their price target on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. boosted their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. The Goldman Sachs Group increased their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Jefferies Financial Group boosted their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $90.20.

Fortune Brands Innovations Company 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.