Arvest Bank Trust Division Takes $17.62 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Arvest Bank Trust Division purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 196,813 shares of the company's stock, valued at approximately $17,621,000. Arvest Bank Trust Division owned 0.16% of Fortune Brands Innovations at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at approximately $25,000. Family Firm Inc. bought a new position in Fortune Brands Innovations in the second quarter valued at approximately $31,000. Brown Brothers Harriman & Co. raised its position in Fortune Brands Innovations by 526.5% during the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company's stock valued at $34,000 after purchasing an additional 437 shares in the last quarter. Rothschild Investment LLC acquired a new position in Fortune Brands Innovations during the second quarter valued at approximately $54,000. Finally, Blue Trust Inc. lifted its stake in Fortune Brands Innovations by 37.0% during the second quarter. Blue Trust Inc. now owns 899 shares of the company's stock worth $58,000 after purchasing an additional 243 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FBIN shares. UBS Group decreased their price target on Fortune Brands Innovations from $98.00 to $97.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group lifted their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. BMO Capital Markets increased their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. Barclays raised their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird lowered their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of "Hold" and an average target price of $91.36.

Fortune Brands Innovations Trading Down 1.1 %

NYSE FBIN traded down $0.85 on Thursday, hitting $77.43. The company's stock had a trading volume of 629,852 shares, compared to its average volume of 1,185,449. The company's 50-day moving average is $82.09 and its 200 day moving average is $77.00. The firm has a market cap of $9.62 billion, a PE ratio of 22.06, a PEG ratio of 2.53 and a beta of 1.48. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. Fortune Brands Innovations's quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. As a group, analysts predict that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Fortune Brands Innovations's previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations's dividend payout ratio (DPR) is 27.04%.

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.