Vanguard Personalized Indexing Management LLC Buys 2,582 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Vanguard Personalized Indexing Management LLC raised its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 16.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 17,992 shares of the company’s stock after buying an additional 2,582 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Fortune Brands Innovations were worth $1,118,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $182,000. State of Alaska Department of Revenue purchased a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $1,130,000. Assenagon Asset Management S.A. purchased a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $837,000. Raymond James & Associates purchased a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $2,439,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $1,551,000. Hedge funds and other institutional investors own 87.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on FBIN. Barclays lifted their price target on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. The Goldman Sachs Group lifted their price objective on Fortune Brands Innovations from $68.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. BMO Capital Markets reiterated a “market perform” rating and issued a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Truist Financial lowered their price objective on Fortune Brands Innovations from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Finally, Oppenheimer assumed coverage on Fortune Brands Innovations in a report on Friday, January 19th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $74.33.

Get Our Latest Analysis on Fortune Brands Innovations

Fortune Brands Innovations Trading Up 0.0 %

FBIN opened at $80.13 on Monday. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $80.91. The stock has a market capitalization of $10.10 billion, a PE ratio of 25.28, a P/E/G ratio of 1.72 and a beta of 1.58. The business’s 50 day moving average price is $76.89 and its 200 day moving average price is $68.92. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.91 and a current ratio of 1.72.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 earnings per share. As a group, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 13th. Shareholders of record on Friday, February 23rd will be given a $0.24 dividend. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.20%. Fortune Brands Innovations’s payout ratio is presently 29.02%.

Fortune Brands Innovations Profile

(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 two segments: Water Innovations; and Outdoors & Security. The Water Innovations segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, and Shaws brands.

Featured Articles

Want to see what other hedge funds are holding FBIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortune Brands Innovations, Inc. (NYSE:FBINFree Report).

Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

Receive News & Ratings for Fortune Brands Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortune Brands Innovations and related companies with MarketBeat.com's FREE daily email newsletter.