Moors & Cabot Inc. Purchases Shares of 3,196 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Moors & Cabot Inc. purchased a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,196 shares of the company’s stock, valued at approximately $230,000.

A number of other institutional investors have also made changes to their positions in the stock. Bray Capital Advisors purchased a new position in shares of Fortune Brands Innovations in the second quarter valued at approximately $27,000. Geneos Wealth Management Inc. purchased a new position in shares of Fortune Brands Innovations in the second quarter valued at approximately $27,000. Westside Investment Management Inc. purchased a new position in shares of Fortune Brands Innovations in the second quarter valued at approximately $29,000. Duncker Streett & Co. Inc. purchased a new position in shares of Fortune Brands Innovations in the second quarter valued at approximately $29,000. Finally, WealthPLAN Partners LLC purchased a new position in shares of Fortune Brands Innovations in the second quarter valued at approximately $29,000. 87.20% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Down 1.7 %

Shares of NYSE:FBIN opened at $66.10 on Tuesday. The firm has a 50 day simple moving average of $61.11 and a 200-day simple moving average of $65.72. The company has a market capitalization of $8.34 billion, a PE ratio of 19.56, a P/E/G ratio of 3.63 and a beta of 1.54. Fortune Brands Innovations, Inc. has a twelve month low of $49.51 and a twelve month high of $77.14. The company has a current ratio of 1.80, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Wednesday, October 25th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Fortune Brands Innovations had a net margin of 9.42% and a return on equity of 24.05%. On average, equities analysts predict that Fortune Brands Innovations, Inc. will post 3.87 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Friday, November 24th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.39%. Fortune Brands Innovations’s payout ratio is 27.22%.

Analyst Ratings Changes

A number of brokerages recently issued reports on FBIN. Jefferies Financial Group decreased their price target on shares of Fortune Brands Innovations from $90.00 to $88.00 in a research note on Thursday, October 12th. BMO Capital Markets lifted their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Truist Financial decreased their price target on shares of Fortune Brands Innovations from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. The Goldman Sachs Group decreased their price target on shares of 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, Barclays decreased their price target on shares of Fortune Brands Innovations from $74.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average price target of $67.75.

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.