Two Sigma Investments LP Makes New Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Two Sigma Investments LP purchased a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 21,100 shares of the company’s stock, valued at approximately $1,442,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new position in shares of Fortune Brands Innovations during the 4th quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new position in Fortune Brands Innovations in the fourth quarter worth about $55,000. IFP Advisors Inc grew its stake in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after purchasing an additional 275 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new position in Fortune Brands Innovations in the fourth quarter valued at approximately $76,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $82,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on FBIN. Royal Bank of Canada dropped their target price on Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 7th. Wall Street Zen upgraded Fortune Brands Innovations from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. UBS Group decreased their price target on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a “hold” rating and a $70.00 price objective for the company. Finally, Barclays dropped their price target on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $77.17.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $50.65 on Wednesday. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.54. The stock has a market cap of $6.09 billion, a PE ratio of 13.51, a PEG ratio of 2.00 and a beta of 1.49. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The firm’s 50 day moving average price is $52.97 and its two-hundred day moving average price is $64.10.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.66. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm posted $0.83 earnings per share. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.33%.

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.