Natixis Makes New Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Natixis bought a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,258 shares of the company’s stock, valued at approximately $1,377,000.

A number of other large investors have also bought and sold shares of FBIN. Tobam increased its position in Fortune Brands Innovations by 1,181.5% in the fourth quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after buying an additional 319 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Fortune Brands Innovations in the fourth quarter worth $29,000. First United Bank & Trust bought a new position in shares of Fortune Brands Innovations in the fourth quarter worth $38,000. Rise Advisors LLC bought a new position in shares of Fortune Brands Innovations in the first quarter worth $38,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Fortune Brands Innovations in the fourth quarter worth $41,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

NYSE:FBIN traded up $3.13 during trading hours on Thursday, hitting $72.17. 2,538,082 shares of the company’s stock traded hands, compared to its average volume of 1,204,778. The firm has a market cap of $9.03 billion, a P/E ratio of 22.07, a P/E/G ratio of 1.98 and a beta of 1.52. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week high of $84.92. The business’s fifty day simple moving average is $68.11 and its two-hundred day simple moving average is $74.81. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business posted $0.69 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.27 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.24 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.33%. Fortune Brands Innovations’s payout ratio is 29.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FBIN shares. Loop Capital cut their price target on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. Truist Financial cut their price target on Fortune Brands Innovations from $92.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. The Goldman Sachs Group cut their price target on Fortune Brands Innovations from $88.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Robert W. Baird raised their price target on Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, Barclays cut their price target on Fortune Brands Innovations from $90.00 to $84.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and a consensus target price of $78.89.

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.