Mirae Asset Global Investments Co. Ltd. Buys 380 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Mirae Asset Global Investments Co. Ltd. increased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 17.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,613 shares of the company’s stock after purchasing an additional 380 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Fortune Brands Innovations were worth $159,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Arizona State Retirement System increased its position in shares of Fortune Brands Innovations by 0.6% in the fourth quarter. Arizona State Retirement System now owns 36,048 shares of the company’s stock worth $2,463,000 after purchasing an additional 213 shares during the period. Baker Ellis Asset Management LLC grew its position in Fortune Brands Innovations by 0.4% in the first quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company’s stock valued at $3,750,000 after acquiring an additional 219 shares during the last quarter. Schroder Investment Management Group grew its position in Fortune Brands Innovations by 0.4% in the fourth quarter. Schroder Investment Management Group now owns 57,629 shares of the company’s stock valued at $3,936,000 after acquiring an additional 238 shares during the last quarter. Fifth Third Bancorp grew its position in Fortune Brands Innovations by 15.4% in the first quarter. Fifth Third Bancorp now owns 2,075 shares of the company’s stock valued at $126,000 after acquiring an additional 277 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in Fortune Brands Innovations by 17.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,105 shares of the company’s stock valued at $144,000 after acquiring an additional 311 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $53.45 on Monday. The stock’s 50 day moving average is $52.11 and its 200 day moving average is $59.99. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.41 and a quick ratio of 0.72. The firm has a market cap of $6.43 billion, a P/E ratio of 15.67, a P/E/G ratio of 2.95 and a beta of 1.36. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. Fortune Brands Innovations had a return on equity of 20.96% and a net margin of 9.42%. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 earnings per share. As a group, research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. Fortune Brands Innovations’s payout ratio is presently 29.33%.

Analyst Ratings Changes

FBIN has been the topic of a number of recent analyst reports. Robert W. Baird decreased their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating on the stock 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. Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They set a “hold” rating and a $70.00 price target on the stock. Wall Street Zen upgraded Fortune Brands Innovations from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Finally, UBS Group reduced their price target on Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $77.17.

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.