Entropy Technologies LP Invests $737,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Entropy Technologies LP bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,234 shares of the company's stock, valued at approximately $737,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FBIN. LRI Investments LLC acquired a new stake in shares of Fortune Brands Innovations in the 1st quarter worth $34,000. Family Firm Inc. purchased a new stake in shares of Fortune Brands Innovations during the 2nd quarter valued at approximately $31,000. Brown Brothers Harriman & Co. lifted its holdings in Fortune Brands Innovations by 526.5% in the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company's stock valued at $34,000 after acquiring an additional 437 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in Fortune Brands Innovations in the first quarter worth approximately $51,000. Finally, Rothschild Investment LLC acquired a new stake in Fortune Brands Innovations during the second quarter worth $54,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Truist Financial boosted their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, November 7th. BMO Capital Markets upped their price objective 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. Royal Bank of Canada lifted their target price on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a "sector perform" rating in a 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 research note on Wednesday, October 9th. Finally, UBS Group dropped their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $91.36.

Fortune Brands Innovations Stock Down 1.4 %

FBIN stock traded down $1.08 during mid-day trading on Friday, reaching $73.96. The company had a trading volume of 1,495,205 shares, compared to its average volume of 1,189,965. The firm has a fifty day simple moving average of $84.89 and a 200 day simple moving average of $76.39. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 2.41 and a beta of 1.51. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The company's revenue was down 8.4% on a year-over-year basis. During the same period last year, the business earned $1.19 EPS. Analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.24 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.96 annualized dividend and a dividend yield of 1.30%. Fortune Brands Innovations's dividend payout ratio is currently 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.