Trajan Wealth LLC Invests $242,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Trajan Wealth LLC bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 2,698 shares of the company’s stock, valued at approximately $242,000.

Other institutional investors have also recently bought and sold shares of the company. Choreo LLC boosted its holdings in shares of Fortune Brands Innovations by 2.9% during the first quarter. Choreo LLC now owns 5,701 shares of the company’s stock worth $483,000 after purchasing an additional 163 shares during the period. Wedmont Private Capital lifted its holdings in shares of Fortune Brands Innovations by 2.9% during the 3rd quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock valued at $502,000 after buying an additional 164 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Fortune Brands Innovations by 2.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock valued at $665,000 after buying an additional 168 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in Fortune Brands Innovations by 2.4% in the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock worth $474,000 after buying an additional 169 shares during the last quarter. Finally, CWM LLC raised its position in Fortune Brands Innovations by 8.3% during the third quarter. CWM LLC now owns 2,199 shares of the company’s stock valued at $197,000 after acquiring an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Truist Financial boosted their target price on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays upped their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Robert W. Baird boosted their target price on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. BMO Capital Markets increased their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $90.20.

Fortune Brands Innovations Price Performance

NYSE:FBIN opened at $84.03 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The company has a 50-day moving average of $84.55 and a 200-day moving average of $75.92. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 2.76 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 52 week low of $55.47 and a 52 week high of $90.54.

Fortune Brands Innovations Dividend Announcement

The business 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 $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is 27.20%.

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.