Coldstream Capital Management Inc. bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,958 shares of the company’s stock, valued at approximately $261,000.
Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC boosted its stake in Fortune Brands Innovations by 104.5% during the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after purchasing an additional 3,024,950 shares during the last quarter. Select Equity Group L.P. lifted its stake in shares of Fortune Brands Innovations by 48.8% in the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after buying an additional 2,075,673 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in Fortune Brands Innovations by 12,402.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock worth $21,921,000 after acquiring an additional 334,865 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Fortune Brands Innovations during the 2nd quarter valued at about $20,857,000. Finally, Robeco Schweiz AG raised its holdings in Fortune Brands Innovations by 26.5% in the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock valued at $58,873,000 after acquiring an additional 189,635 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on FBIN shares. UBS Group lowered their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Barclays upped their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Jefferies Financial Group lifted their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group boosted their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Robert W. Baird cut their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $91.36.
Fortune Brands Innovations Stock Performance
Shares of FBIN stock opened at $74.93 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The firm has a market cap of $9.31 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.51 and a beta of 1.47. The firm’s 50 day moving average price is $81.42 and its 200-day moving average price is $77.21. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. The firm’s revenue was down 8.4% compared to the same quarter last year. As a group, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.
Fortune Brands Innovations Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a $0.25 dividend. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s payout ratio is currently 28.17%.
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.
Further Reading
- Five stocks we like better than Fortune Brands Innovations
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Semtech Stock Climbs as AI Boom Drives Turnaround Success
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- 3 Companies Leading the Way With Aggressive Stock Buybacks
- What is the Euro STOXX 50 Index?
- Is It Time to Buy Nuclear Energy Stocks After the Latest Dip?
Receive News & Ratings for Fortune Brands Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortune Brands Innovations and related companies with MarketBeat.com's FREE daily email newsletter.