D.A. Davidson & CO. Purchases 475 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

D.A. Davidson & CO. increased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,874 shares of the company’s stock after buying an additional 475 shares during the period. D.A. Davidson & CO. owned 0.07% of Fortune Brands Innovations worth $7,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FBIN. Family Firm Inc. acquired a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $31,000. LRI Investments LLC bought a new position in Fortune Brands Innovations during the first quarter worth $34,000. Brown Brothers Harriman & Co. increased its stake in Fortune Brands Innovations by 526.5% in the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after purchasing an additional 437 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of Fortune Brands Innovations during the first quarter valued at about $51,000. Finally, Rothschild Investment LLC bought a new stake in Fortune Brands Innovations in the 2nd quarter valued at about $54,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Truist Financial lifted their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird lowered their price objective 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. UBS Group cut their target price on 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, Jefferies Financial Group raised their price objective 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. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $91.36.

Fortune Brands Innovations Price Performance

FBIN opened at $77.97 on Thursday. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The firm has a 50-day moving average of $84.08 and a 200 day moving average of $76.57. 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 market cap of $9.69 billion, a P/E ratio of 21.96, a PEG ratio of 2.59 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the business posted $1.19 EPS. Fortune Brands Innovations’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, research analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.23%. Fortune Brands Innovations’s dividend payout ratio is presently 27.04%.

About Fortune Brands Innovations

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.