Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 11.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,247,069 shares of the company's stock after buying an additional 130,170 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.00% of Fortune Brands Innovations worth $111,650,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in Fortune Brands Innovations during the 3rd quarter valued at about $25,000. Family Firm Inc. bought a new stake in shares of Fortune Brands Innovations in the second quarter worth about $31,000. Brown Brothers Harriman & Co. grew its holdings in Fortune Brands Innovations by 526.5% during 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 in the last quarter. Rothschild Investment LLC bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth about $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.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays lifted their price objective on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, October 9th. BMO Capital Markets upped their price objective 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. The Goldman Sachs Group raised their target price on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. UBS Group dropped their price target on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Finally, Truist Financial lifted their target price 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $91.36.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN traded down $0.18 on Monday, hitting $78.12. The company's stock had a trading volume of 548,777 shares, compared to its average volume of 1,193,038. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The company has a market capitalization of $9.70 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54. The stock has a 50 day moving average of $83.58 and a 200-day moving average of $76.65.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (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 during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the firm earned $1.19 EPS. The firm's quarterly revenue was down 8.4% compared to the same quarter last year. As a group, research analysts predict that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations's payout ratio is currently 27.04%.

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.