Northwest & Ethical Investments L.P. Grows Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Northwest & Ethical Investments L.P. grew its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 22.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,240 shares of the company's stock after buying an additional 7,673 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Fortune Brands Innovations were worth $3,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Fortune Brands Innovations in the 3rd quarter worth $25,000. Family Firm Inc. purchased a new position in shares of Fortune Brands Innovations during the second quarter valued at about $31,000. LRI Investments LLC purchased a new position in shares of Fortune Brands Innovations during the first quarter valued at about $34,000. Brown Brothers Harriman & Co. grew its position in shares of 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. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Fortune Brands Innovations during the first quarter valued at about $51,000. 87.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FBIN has been the subject of several recent research reports. Jefferies Financial Group lifted their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Robert W. Baird decreased their price objective on shares of 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. The Goldman Sachs Group raised their price objective on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Evercore ISI decreased 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 note on Thursday, November 7th. Finally, Truist Financial raised their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $91.36.

Fortune Brands Innovations Trading Up 0.4 %

Shares of Fortune Brands Innovations stock traded up $0.34 on Friday, hitting $78.31. 510,466 shares of the company traded hands, compared to its average volume of 1,195,705. The stock's 50 day moving average price is $83.75 and its 200-day moving average price is $76.59. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week high of $90.54. The company has a market cap of $9.73 billion, a PE ratio of 22.15, a PEG ratio of 2.50 and a beta of 1.51.

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

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is 27.04%.

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.