402 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Bought by LRI Investments LLC

LRI Investments LLC bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 402 shares of the company’s stock, valued at approximately $34,000.

A number of other institutional investors and hedge funds have also modified their holdings of FBIN. Tobam boosted its holdings in Fortune Brands Innovations by 1,181.5% in the 4th quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after buying an additional 319 shares during the last quarter. Principal Securities Inc. acquired a new position in Fortune Brands Innovations in the 4th quarter valued at $29,000. First United Bank & Trust purchased a new position in Fortune Brands Innovations in the 4th quarter valued at $38,000. Rise Advisors LLC acquired a new stake in Fortune Brands Innovations during the 1st quarter worth $38,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $76.59 on Friday. The company’s fifty day simple moving average is $69.07 and its 200-day simple moving average is $74.88. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week high of $84.92. The company has a market cap of $9.51 billion, a PE ratio of 23.41, a P/E/G ratio of 2.49 and a beta of 1.52.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $1.07 EPS. As a group, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 23rd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, August 23rd. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FBIN shares. Barclays increased their price target on Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their price objective on 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 Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, May 1st. Robert W. Baird increased their target price on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group boosted their price target on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.20.

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.