New York State Common Retirement Fund Acquires 15,253 Shares of Fortune Brands Innovations, Inc. $FBIN

New York State Common Retirement Fund lifted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 17.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,330 shares of the company’s stock after acquiring an additional 15,253 shares during the period. New York State Common Retirement Fund owned 0.09% of Fortune Brands Innovations worth $5,570,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC bought a new position in Fortune Brands Innovations in the 2nd quarter worth approximately $26,000. Hilltop National Bank purchased a new position in shares of Fortune Brands Innovations in the third quarter worth $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Fortune Brands Innovations by 158.3% during the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after acquiring an additional 323 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new position in Fortune Brands Innovations during the second quarter valued at $34,000. Finally, Ameritas Advisory Services LLC bought a new stake in Fortune Brands Innovations in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

FBIN has been the subject of several research reports. UBS Group dropped their price objective on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating for the company in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Monday, December 29th. Vertical Research assumed coverage on Fortune Brands Innovations in a report on Tuesday, October 21st. They set a “hold” rating and a $52.00 price target for the company. Barclays upped their price objective on Fortune Brands Innovations from $63.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Finally, Evercore ISI reiterated an “outperform” rating on shares of Fortune Brands Innovations in a research report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $62.33.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $59.86 on Friday. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 5.17 and a beta of 1.41. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.94 and a current ratio of 1.95. The stock has a 50 day moving average price of $54.14 and a 200-day moving average price of $53.96. Fortune Brands Innovations, Inc. has a one year low of $44.04 and a one year high of $70.47.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Friday, February 20th will be issued a $0.26 dividend. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 20th. This represents a $1.04 annualized dividend and a dividend yield of 1.7%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 37.31%.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.