BNP Paribas Arbitrage SNC acquired a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 89,729 shares of the company’s stock, valued at approximately $6,456,000. BNP Paribas Arbitrage SNC owned approximately 0.07% of Fortune Brands Innovations at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bray Capital Advisors purchased a new stake in shares of Fortune Brands Innovations in the second quarter valued at about $27,000. Geneos Wealth Management Inc. purchased a new position in Fortune Brands Innovations during the 2nd quarter valued at about $27,000. Westside Investment Management Inc. purchased a new position in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $29,000. Duncker Streett & Co. Inc. purchased a new position in Fortune Brands Innovations during the second quarter worth $29,000. Finally, WealthPLAN Partners LLC purchased a new position in Fortune Brands Innovations during the second quarter worth $29,000. 87.20% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Barclays dropped their price objective on Fortune Brands Innovations from $74.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Royal Bank of Canada lowered their price target on shares of Fortune Brands Innovations from $74.00 to $63.00 and set a “sector perform” rating for the company in a report on Thursday, October 26th. Truist Financial decreased their price objective on Fortune Brands Innovations from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. The Goldman Sachs Group dropped their target price on Fortune Brands Innovations from $77.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Finally, Jefferies Financial Group decreased their target price on shares of Fortune Brands Innovations from $90.00 to $88.00 in a research report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.75.
Fortune Brands Innovations Stock Down 1.7 %
Shares of Fortune Brands Innovations stock opened at $66.10 on Tuesday. Fortune Brands Innovations, Inc. has a twelve month low of $49.51 and a twelve month high of $77.14. The company has a fifty day moving average price of $61.11 and a 200 day moving average price of $65.72. The company has a current ratio of 1.80, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 3.63 and a beta of 1.54.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last issued its earnings results on Wednesday, October 25th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.12. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.25 billion. Fortune Brands Innovations had a return on equity of 24.05% and a net margin of 9.42%. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 3.87 earnings per share for the current fiscal year.
Fortune Brands Innovations Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Friday, November 24th will be given a $0.23 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.92 dividend on an annualized basis and a yield of 1.39%. Fortune Brands Innovations’s payout ratio is currently 27.22%.
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 two segments: Water Innovations; and Outdoors & Security. The Water Innovations segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, and Shaws brands.
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