Fortune Brands Innovations, Inc. (NYSE:FBIN) Position Lessened by Stifel Financial Corp

Stifel Financial Corp lowered its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 40.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,296 shares of the company’s stock after selling 5,724 shares during the quarter. Stifel Financial Corp’s holdings in Fortune Brands Innovations were worth $743,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Fortune Brands Innovations in the 3rd quarter worth about $25,000. Brown Brothers Harriman & Co. grew its position in Fortune Brands Innovations by 526.5% in 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 during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Fortune Brands Innovations in the second quarter valued at approximately $54,000. Raleigh Capital Management Inc. raised its holdings in shares of Fortune Brands Innovations by 31.7% during the third quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after buying an additional 216 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in shares of Fortune Brands Innovations during the third quarter worth approximately $81,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Up 0.3 %

FBIN stock opened at $69.84 on Wednesday. The firm has a market cap of $8.68 billion, a PE ratio of 19.67, a P/E/G ratio of 2.51 and a beta of 1.47. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month 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. The firm has a 50 day simple moving average of $79.28 and a 200 day simple moving average of $77.32.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The firm’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 1.43%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 28.17%.

Wall Street Analyst Weigh In

Several research firms recently commented on FBIN. Evercore ISI lowered their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. UBS Group lowered their price target on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group upped their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays raised their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets upped their price target on shares of 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. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.