6,661 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,661 shares of the company's stock, valued at approximately $433,000.

A number of other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of Fortune Brands Innovations by 1,074.0% in the 2nd quarter. Van ECK Associates Corp now owns 37,367 shares of the company's stock valued at $2,426,000 after purchasing an additional 34,184 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Fortune Brands Innovations by 17.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company's stock worth $5,052,000 after buying an additional 8,836 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Fortune Brands Innovations during the 1st quarter worth approximately $624,000. Qsemble Capital Management LP grew its position in shares of Fortune Brands Innovations by 1,091.8% during the 2nd quarter. Qsemble Capital Management LP now owns 28,459 shares of the company's stock worth $1,848,000 after buying an additional 26,071 shares during the period. Finally, Duality Advisers LP bought a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at $5,498,000. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Down 1.2 %

Shares of FBIN traded down $1.12 during trading hours on Thursday, reaching $88.87. 774,700 shares of the stock traded hands, compared to its average volume of 1,179,422. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week high of $90.54. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. The stock has a fifty day simple moving average of $82.58 and a 200 day simple moving average of $75.56. The company has a market cap of $11.12 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 2.79 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.12 by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.28 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The company's quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 EPS. On average, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations's payout ratio is 29.36%.

Analysts Set New Price Targets

FBIN has been the topic of several research analyst reports. Barclays increased their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. The Goldman Sachs Group boosted 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. Truist Financial lifted their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Jefferies Financial Group boosted their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations presently has an average rating of "Hold" and an average target price of $88.10.

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.