Natixis Advisors LLC Has $5.26 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Natixis Advisors LLC raised its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 20.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,728 shares of the company's stock after acquiring an additional 10,069 shares during the period. Natixis Advisors LLC's holdings in Fortune Brands Innovations were worth $5,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Select Equity Group L.P. lifted its stake in Fortune Brands Innovations by 48.8% in the 2nd quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company's stock valued at $410,866,000 after acquiring an additional 2,075,673 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Fortune Brands Innovations by 12,402.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company's stock worth $21,921,000 after purchasing an additional 334,865 shares in the last quarter. Renaissance Technologies LLC bought a new position in Fortune Brands Innovations in the second quarter valued at $20,857,000. Robeco Schweiz AG increased its stake in Fortune Brands Innovations by 26.5% in the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company's stock valued at $58,873,000 after buying an additional 189,635 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Fortune Brands Innovations by 71.0% in the 2nd quarter. AQR Capital Management LLC now owns 415,255 shares of the company's stock valued at $26,967,000 after buying an additional 172,435 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

Fortune Brands Innovations Price Performance

FBIN stock traded up $0.98 during mid-day trading on Friday, hitting $76.50. The stock had a trading volume of 1,306,313 shares, compared to its average volume of 1,447,565. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $9.50 billion, a P/E ratio of 21.55, a P/E/G ratio of 2.43 and a beta of 1.51. The firm has a fifty day simple moving average of $84.29 and a 200 day simple moving average of $76.46. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 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 EPS for the quarter, beating 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 business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the business earned $1.19 earnings per share. The company's revenue was down 8.4% on a year-over-year basis. As a group, research analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.25%. Fortune Brands Innovations's dividend payout ratio (DPR) is currently 27.04%.

Analyst Ratings Changes

Several brokerages have recently weighed in on FBIN. The Goldman Sachs Group raised their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Evercore ISI lowered their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating on the stock in a research report on Thursday, November 7th. Robert W. Baird dropped their price target on shares of 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. Royal Bank of Canada lifted their price objective on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a "sector perform" rating in a research report on Friday, July 26th. Finally, Truist Financial raised their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.