UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $111.65 Million Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 11.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,247,069 shares of the company’s stock after purchasing an additional 130,170 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.00% of Fortune Brands Innovations worth $111,650,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of Fortune Brands Innovations during the third quarter valued at $25,000. Family Firm Inc. purchased a new position in Fortune Brands Innovations during the 2nd quarter valued at about $31,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Fortune Brands Innovations by 526.5% during the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after purchasing an additional 437 shares during the period. Rothschild Investment LLC purchased a new position in Fortune Brands Innovations during the second quarter valued at approximately $54,000. Finally, Blue Trust Inc. increased its stake in Fortune Brands Innovations by 37.0% in the 2nd quarter. Blue Trust Inc. now owns 899 shares of the company’s stock valued at $58,000 after buying an additional 243 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Up 0.4 %

Fortune Brands Innovations stock opened at $78.30 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The firm has a fifty day moving average price of $83.58 and a two-hundred day moving average price of $76.64. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 2.51 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 EPS. As a group, analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 27.04%.

Analyst Upgrades and Downgrades

FBIN has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. UBS Group dropped their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. BMO Capital Markets lifted their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Truist Financial increased their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Barclays lifted their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $91.36.

About Fortune Brands Innovations

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.