Blair William & Co. IL Has $458,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Blair William & Co. IL lessened its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 10.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,528 shares of the company’s stock after selling 909 shares during the period. Blair William & Co. IL’s holdings in Fortune Brands Innovations were worth $458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. von Borstel & Associates Inc. acquired a new stake in shares of Fortune Brands Innovations in the first quarter valued at about $26,000. CX Institutional acquired a new stake in shares of Fortune Brands Innovations in the first quarter valued at about $29,000. Raleigh Capital Management Inc. increased its stake in shares of Fortune Brands Innovations by 28.2% in the first quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company’s stock valued at $62,000 after buying an additional 224 shares during the period. Alpine Bank Wealth Management acquired a new stake in shares of Fortune Brands Innovations in the first quarter valued at about $62,000. Finally, Siemens Fonds Invest GmbH acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $76,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 1.7%

FBIN stock opened at $55.11 on Tuesday. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $90.54. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The stock’s 50 day moving average is $53.27 and its 200-day moving average is $57.12. The firm has a market capitalization of $6.62 billion, a PE ratio of 17.33, a P/E/G ratio of 3.85 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the company earned $1.16 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 31.45%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Truist Financial set a $65.00 price target on Fortune Brands Innovations in a research note on Wednesday, May 7th. Royal Bank Of Canada raised Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $59.00 to $65.00 in a research note on Friday, August 1st. Robert W. Baird cut 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. Finally, Loop Capital restated a “hold” rating and set a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.91.

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.