Point72 DIFC Ltd Acquires New Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Point72 DIFC Ltd acquired a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,135 shares of the company's stock, valued at approximately $818,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FBIN. Brooklyn Investment Group purchased a new position in Fortune Brands Innovations in the third quarter worth about $25,000. Family Firm Inc. bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter valued at approximately $31,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company's stock worth $34,000 after purchasing an additional 437 shares during the period. Rothschild Investment LLC bought a new position in shares of Fortune Brands Innovations during the 2nd quarter valued at approximately $54,000. Finally, Blue Trust Inc. raised its holdings in Fortune Brands Innovations by 37.0% during the 2nd quarter. Blue Trust Inc. now owns 899 shares of the company's stock valued at $58,000 after buying an additional 243 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Trading Up 0.3 %

FBIN traded up $0.22 during trading on Friday, hitting $78.87. 732,662 shares of the stock were exchanged, compared to its average volume of 1,189,090. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The firm has a 50 day simple moving average of $82.90 and a 200 day simple moving average of $76.75. The firm has a market cap of $9.80 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 2.52 and a beta of 1.47. Fortune Brands Innovations, Inc. has a 1 year low of $62.54 and a 1 year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results 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 return on equity of 22.22% and a net margin of 9.61%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the firm posted $1.19 earnings per share. The business's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a $0.24 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.96 annualized dividend and a dividend yield of 1.22%. Fortune Brands Innovations's payout ratio is presently 27.04%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FBIN. Robert W. Baird dropped 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. BMO Capital Markets upped their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a "market perform" rating in a report on Tuesday, October 22nd. Truist Financial increased 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 report on Thursday, November 7th. Barclays boosted their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. Finally, Evercore ISI reduced their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating on the stock in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.