Family Firm Inc. Takes Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Family Firm Inc. bought a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 484 shares of the company’s stock, valued at approximately $31,000.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Fortune Brands Innovations during the fourth quarter worth about $522,000. Daiwa Securities Group Inc. increased its holdings in Fortune Brands Innovations by 3.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 7,900 shares of the company’s stock valued at $602,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC bought a new position in Fortune Brands Innovations in the 4th quarter valued at $117,000. Atria Wealth Solutions Inc. boosted its stake in Fortune Brands Innovations by 6.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,834 shares of the company’s stock worth $292,000 after purchasing an additional 234 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Fortune Brands Innovations by 9.8% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,531 shares of the company’s stock worth $345,000 after purchasing an additional 404 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FBIN. JPMorgan Chase & Co. lifted their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Royal Bank of Canada upped their target price on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Evercore ISI decreased their price target on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, May 1st. Loop Capital dropped their price objective on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Finally, Robert W. Baird upped their price objective on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.20.

Fortune Brands Innovations Stock Up 3.9 %

Shares of NYSE FBIN traded up $3.08 during mid-day trading on Friday, hitting $81.38. The company had a trading volume of 1,263,929 shares, compared to its average volume of 1,229,051. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $84.92. The company has a market capitalization of $10.18 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 2.49 and a beta of 1.52. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. The firm has a 50-day simple moving average of $71.43 and a two-hundred day simple moving average of $74.64.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 23rd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.96 annualized dividend and a dividend yield of 1.18%. Fortune Brands Innovations’s dividend payout ratio is presently 29.36%.

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.