Ceredex Value Advisors LLC purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 147,100 shares of the company's stock, valued at approximately $13,170,000. Ceredex Value Advisors LLC owned 0.12% of Fortune Brands Innovations at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of Fortune Brands Innovations during the first quarter valued at approximately $34,000. Family Firm Inc. bought a new stake in Fortune Brands Innovations in the 2nd quarter valued at $31,000. Brown Brothers Harriman & Co. increased its holdings in Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company's stock valued at $34,000 after buying an additional 437 shares during the period. Pathway Financial Advisers LLC acquired a new position in shares of Fortune Brands Innovations in the 1st quarter valued at $51,000. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of Fortune Brands Innovations by 36.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 743 shares of the company's stock worth $63,000 after acquiring an additional 200 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.
Fortune Brands Innovations Price Performance
Shares of NYSE:FBIN traded up $0.46 during midday trading on Friday, reaching $83.79. The company's stock had a trading volume of 1,000,603 shares, compared to its average volume of 934,497. The business's fifty day simple moving average is $84.69 and its 200-day simple moving average is $76.03. The company has a market capitalization of $10.40 billion, a P/E ratio of 23.74, a P/E/G ratio of 2.63 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. Fortune Brands Innovations, Inc. has a fifty-two week low of $58.86 and a fifty-two week high of $90.54.
Fortune Brands Innovations Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders 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 dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations's dividend payout ratio is presently 27.20%.
Analysts Set New Price Targets
FBIN has been the subject of several recent research reports. Truist Financial increased their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Barclays increased their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Jefferies Financial Group boosted their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. Finally, Loop Capital reduced their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a "hold" rating on the stock in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $90.20.
Read Our Latest Research Report on FBIN
Fortune Brands Innovations Company Profile
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Free Report)
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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