Arvest Investments Inc. grew its position in Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,309 shares of the company’s stock after buying an additional 218 shares during the period. Arvest Investments Inc.’s holdings in Fortune Brands Innovations were worth $1,818,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Select Equity Group L.P. raised its holdings in Fortune Brands Innovations by 48.8% in the 2nd quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock valued at $410,866,000 after buying an additional 2,075,673 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Fortune Brands Innovations by 12,402.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock valued at $21,921,000 after acquiring an additional 334,865 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Fortune Brands Innovations in the 2nd quarter worth approximately $20,857,000. Robeco Schweiz AG boosted its position in shares of Fortune Brands Innovations by 26.5% during the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock worth $58,873,000 after purchasing an additional 189,635 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Fortune Brands Innovations by 71.0% in the 2nd quarter. AQR Capital Management LLC now owns 415,255 shares of the company’s stock valued at $26,967,000 after purchasing an additional 172,435 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.
Wall Street Analysts Forecast Growth
FBIN has been the topic of a number of research reports. UBS Group decreased their price target on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday. Royal Bank of Canada increased their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Robert W. Baird dropped their target price on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday. Truist Financial upped their target price on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Barclays raised their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $91.36.
Fortune Brands Innovations Stock Down 0.1 %
Fortune Brands Innovations stock traded down $0.07 during midday trading on Friday, reaching $79.05. The company’s stock had a trading volume of 1,499,190 shares, compared to its average volume of 1,005,199. The company has a market cap of $9.81 billion, a P/E ratio of 22.27, a P/E/G ratio of 2.66 and a beta of 1.51. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The business has a 50-day simple moving average of $84.99 and a 200-day simple moving average of $76.33. Fortune Brands Innovations, Inc. has a fifty-two week low of $59.72 and a fifty-two week high of $90.54.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last issued its earnings results 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 for the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.44% and a net margin of 9.61%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the company earned $1.19 EPS. On average, research analysts expect that Fortune Brands Innovations, Inc. will post 4.29 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, December 11th. Investors of record on Friday, November 22nd will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.21%. Fortune Brands Innovations’s dividend payout ratio is presently 27.04%.
Fortune Brands Innovations 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.
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