Benjamin Edwards Inc. Takes $972,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Benjamin Edwards Inc. bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,853 shares of the company's stock, valued at approximately $972,000.

Several other large investors have also recently bought and sold shares of the stock. Select Equity Group L.P. increased its stake in shares of Fortune Brands Innovations by 48.8% during the 2nd quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company's stock worth $410,866,000 after purchasing an additional 2,075,673 shares during the last quarter. FMR LLC grew its holdings in Fortune Brands Innovations by 104.5% during the third quarter. FMR LLC now owns 5,920,248 shares of the company's stock worth $530,040,000 after purchasing an additional 3,024,950 shares during the period. Dimensional Fund Advisors LP increased its position in Fortune Brands Innovations by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,840,067 shares of the company's stock worth $119,501,000 after buying an additional 167,758 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Fortune Brands Innovations by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company's stock valued at $89,507,000 after buying an additional 24,139 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Fortune Brands Innovations by 11.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company's stock valued at $111,650,000 after buying an additional 130,170 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Price Performance

NYSE:FBIN traded up $0.22 during trading hours on Friday, reaching $78.87. 732,662 shares of the company were exchanged, compared to its average volume of 1,289,396. The company has a market capitalization of $9.80 billion, a P/E ratio of 22.22, a P/E/G ratio of 2.54 and a beta of 1.47. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The business has a 50 day moving average of $82.71 and a 200 day moving average of $76.83. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates 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 firm posted $1.19 EPS. Research analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations's payout ratio is presently 27.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FBIN shares. The Goldman Sachs Group increased their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. BMO Capital Markets lifted 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. Jefferies Financial Group increased their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Robert W. Baird decreased their target price on Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating on the stock in a research report on Thursday, November 7th. Finally, Barclays increased their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $91.36.

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.