Charles Schwab Investment Management Inc. Has $52.85 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Charles Schwab Investment Management Inc. boosted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 868,045 shares of the company’s stock after purchasing an additional 3,212 shares during the period. Charles Schwab Investment Management Inc. owned 0.72% of Fortune Brands Innovations worth $52,847,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Balyasny Asset Management L.P. increased its stake in shares of Fortune Brands Innovations by 1,530.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 775,093 shares of the company’s stock valued at $52,962,000 after buying an additional 727,550 shares during the period. First Pacific Advisors LP increased its stake in shares of Fortune Brands Innovations by 220.8% in the first quarter. First Pacific Advisors LP now owns 792,517 shares of the company’s stock valued at $48,248,000 after buying an additional 545,499 shares during the period. Northern Trust Corp increased its stake in shares of Fortune Brands Innovations by 35.5% in the fourth quarter. Northern Trust Corp now owns 1,295,703 shares of the company’s stock valued at $88,535,000 after buying an additional 339,314 shares during the period. KBC Group NV increased its stake in shares of Fortune Brands Innovations by 163.0% in the first quarter. KBC Group NV now owns 429,865 shares of the company’s stock valued at $26,171,000 after buying an additional 266,399 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Fortune Brands Innovations by 27.3% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 955,820 shares of the company’s stock valued at $65,311,000 after buying an additional 204,926 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of Fortune Brands Innovations stock opened at $58.69 on Friday. The company has a market cap of $7.05 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 4.04 and a beta of 1.32. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The business has a 50 day moving average price of $53.90 and a 200-day moving average price of $56.94. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share. Equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 22nd. Fortune Brands Innovations’s dividend payout ratio is presently 31.45%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FBIN shares. UBS Group increased their price target on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research report on Wednesday, May 7th. Wall Street Zen upgraded Fortune Brands Innovations from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Royal Bank Of Canada upgraded Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $59.00 to $65.00 in a report on Friday, August 1st. Finally, Barclays increased their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.91.

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.