Vanguard Personalized Indexing Management LLC Boosts Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Vanguard Personalized Indexing Management LLC increased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 16.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,992 shares of the company’s stock after acquiring an additional 2,582 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Fortune Brands Innovations were worth $1,118,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at $1,052,123,000. JPMorgan Chase & Co. acquired a new position in shares of Fortune Brands Innovations during the 2nd quarter valued at $392,938,000. State Street Corp acquired a new position in shares of Fortune Brands Innovations during the 2nd quarter valued at $365,010,000. Holocene Advisors LP acquired a new position in shares of Fortune Brands Innovations during the 2nd quarter valued at $193,486,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Fortune Brands Innovations during the 2nd quarter valued at $142,667,000. Institutional investors and hedge funds own 87.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FBIN. Oppenheimer began coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They set a “market perform” rating on the stock. Royal Bank of Canada reduced their target price on shares of Fortune Brands Innovations from $74.00 to $63.00 and set a “sector perform” rating on the stock in a report on Thursday, October 26th. Barclays lifted their target price on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. BMO Capital Markets reaffirmed a “market perform” rating and set a $82.00 price target (up previously from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Finally, Truist Financial dropped their price target on shares of Fortune Brands Innovations from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $74.33.

View Our Latest Research Report on FBIN

Fortune Brands Innovations Price Performance

FBIN opened at $80.13 on Monday. The company has a 50-day moving average of $76.89 and a 200-day moving average of $68.92. The company has a market capitalization of $10.10 billion, a P/E ratio of 25.28, a PEG ratio of 1.72 and a beta of 1.58. Fortune Brands Innovations, Inc. has a 1-year low of $54.10 and a 1-year high of $80.91. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.91 and a current ratio of 1.72.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last released its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 EPS. Equities analysts expect that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Friday, February 23rd will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.96 annualized dividend and a dividend yield of 1.20%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.23. Fortune Brands Innovations’s payout ratio is presently 29.02%.

Fortune Brands Innovations Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

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