Fmr LLC Boosts Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

FMR LLC increased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 104.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,920,248 shares of the company's stock after acquiring an additional 3,024,950 shares during the period. FMR LLC owned about 4.77% of Fortune Brands Innovations worth $530,040,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Family Firm Inc. bought a new position in Fortune Brands Innovations in the second quarter worth approximately $31,000. LRI Investments LLC bought a new position in Fortune Brands Innovations in the 1st quarter worth $34,000. Brown Brothers Harriman & Co. lifted 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. Pathway Financial Advisers LLC bought a new stake in Fortune Brands Innovations during the first quarter valued at about $51,000. Finally, Rothschild Investment LLC purchased a new stake in Fortune Brands Innovations in the second quarter worth about $54,000. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Price Performance

NYSE:FBIN traded up $0.33 during trading hours on Friday, reaching $78.30. The stock had a trading volume of 510,466 shares, compared to its average volume of 1,195,705. The stock has a market capitalization of $9.73 billion, a PE ratio of 22.06, a PEG ratio of 2.50 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week high of $90.54. The company has a 50 day moving average price of $83.58 and a two-hundred day moving average price of $76.62. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same quarter in the previous year, the business posted $1.19 earnings per share. Fortune Brands Innovations's quarterly revenue was down 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations's payout ratio is 27.04%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FBIN shares. Robert W. Baird cut their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Evercore ISI dropped their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating for the company in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. BMO Capital Markets upped 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. Finally, Truist Financial raised their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a "buy" rating in a report 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.com, the company presently has a consensus rating of "Hold" and a consensus target price of $91.36.

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.