Landscape Capital Management L.L.C. Invests $3.49 Million in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Landscape Capital Management L.L.C. purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 38,988 shares of the company's stock, valued at approximately $3,491,000.

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

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $74.89 on Thursday. 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, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54. The firm has a fifty day moving average of $84.53 and a 200-day moving average of $76.45. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 2.36 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The company's revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 earnings per share. On average, equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.28%. Fortune Brands Innovations's payout ratio is 27.04%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FBIN shares. Truist Financial lifted 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. Evercore ISI dropped their price objective 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. BMO Capital Markets increased their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a "market perform" rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group boosted their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $91.36.

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.

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