Verition Fund Management LLC Boosts Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Verition Fund Management LLC boosted its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 166.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,608 shares of the company's stock after purchasing an additional 6,622 shares during the quarter. Verition Fund Management LLC's holdings in Fortune Brands Innovations were worth $950,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC raised its stake in shares of Fortune Brands Innovations by 99.2% in the second quarter. SG Americas Securities LLC now owns 5,895 shares of the company's stock worth $383,000 after purchasing an additional 2,935 shares during the last quarter. Aspire Private Capital LLC raised its position in Fortune Brands Innovations by 20.7% in the 2nd quarter. Aspire Private Capital LLC now owns 2,486 shares of the company's stock worth $161,000 after buying an additional 426 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Fortune Brands Innovations by 10.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,698 shares of the company's stock valued at $565,000 after acquiring an additional 848 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Fortune Brands Innovations by 10.7% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,848 shares of the company's stock valued at $120,000 after acquiring an additional 179 shares during the last quarter. Finally, PGGM Investments grew its stake in shares of Fortune Brands Innovations by 3.5% in the second quarter. PGGM Investments now owns 45,157 shares of the company's stock worth $2,932,000 after acquiring an additional 1,529 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock traded down $0.01 during midday trading on Monday, hitting $78.86. The stock had a trading volume of 1,020,409 shares, compared to its average volume of 1,188,378. 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 capitalization of $9.80 billion, a PE ratio of 22.21, a P/E/G ratio of 2.53 and a beta of 1.48. The firm's fifty day moving average is $82.49 and its two-hundred day moving average is $76.94. 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 (NYSE:FBIN - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same period in the prior year, the company posted $1.19 earnings per share. The company's revenue for the quarter was down 8.4% compared to the same quarter last year. On average, research analysts forecast 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. Stockholders of record on Friday, November 22nd will be given a $0.24 dividend. The ex-dividend date of this dividend 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 27.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FBIN shares. Evercore ISI dropped their target price on shares of 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. BMO Capital Markets raised their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group upped their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Barclays raised their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. Finally, Robert W. Baird cut their price target on 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. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $91.36.

Fortune Brands Innovations 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.