CX Institutional Invests $29,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

CX Institutional acquired a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 484 shares of the company’s stock, valued at approximately $29,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Fortune Brands Innovations by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company’s stock valued at $821,840,000 after buying an additional 68,404 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Fortune Brands Innovations by 2.6% in the fourth quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company’s stock worth $303,792,000 after acquiring an additional 114,391 shares during the period. Wellington Management Group LLP boosted its holdings in Fortune Brands Innovations by 63.0% in the fourth quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company’s stock valued at $196,153,000 after acquiring an additional 1,110,021 shares during the last quarter. Amundi increased its position in Fortune Brands Innovations by 166.8% during the 4th quarter. Amundi now owns 2,306,864 shares of the company’s stock valued at $157,953,000 after purchasing an additional 1,442,195 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Fortune Brands Innovations by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,924,181 shares of the company’s stock worth $131,481,000 after purchasing an additional 40,138 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FBIN. Robert W. Baird decreased their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Truist Financial set a $65.00 price target on Fortune Brands Innovations in a report on Wednesday, May 7th. UBS Group dropped their price objective on Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Barclays decreased their target price on Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Finally, Royal Bank Of Canada dropped their price target on Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 7th. Eight 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, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average target price of $77.17.

Fortune Brands Innovations Stock Down 3.1%

Shares of NYSE:FBIN opened at $49.30 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.72 and a current ratio of 1.41. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.54. The business’s 50 day simple moving average is $52.13 and its two-hundred day simple moving average is $62.32. The firm has a market cap of $5.93 billion, a P/E ratio of 14.46, a PEG ratio of 2.81 and a beta of 1.38.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. Fortune Brands Innovations had a return on equity of 20.96% and a net margin of 9.42%. 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 business earned $0.83 EPS. Fortune Brands Innovations’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th were issued a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.03%. Fortune Brands Innovations’s dividend payout ratio is presently 29.33%.

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.