Northwest & Ethical Investments L.P. Buys 7,673 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Northwest & Ethical Investments L.P. raised its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 22.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,240 shares of the company’s stock after acquiring an additional 7,673 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Fortune Brands Innovations were worth $3,782,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Comerica Bank raised its stake in shares of Fortune Brands Innovations by 1.2% during the 1st quarter. Comerica Bank now owns 66,543 shares of the company’s stock worth $5,634,000 after purchasing an additional 784 shares during the period. LRI Investments LLC purchased a new stake in Fortune Brands Innovations in the 1st quarter worth about $34,000. Swedbank AB purchased a new stake in Fortune Brands Innovations in the 1st quarter worth about $4,884,000. PGGM Investments increased its holdings in Fortune Brands Innovations by 412.6% in the 1st quarter. PGGM Investments now owns 43,628 shares of the company’s stock worth $3,694,000 after acquiring an additional 35,117 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in Fortune Brands Innovations in the 1st quarter worth about $51,000. 87.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FBIN shares. BMO Capital Markets lifted their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Robert W. Baird decreased their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Barclays lifted their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group lifted their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Jefferies Financial Group lifted their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report 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 stock currently has an average rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Stock Down 0.0 %

Shares of NYSE FBIN opened at $77.97 on Friday. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month high of $90.54. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $9.69 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 2.50 and a beta of 1.51. The business has a 50-day moving average of $83.95 and a 200-day moving average of $76.58.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. Fortune Brands Innovations’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS. Sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors 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 dividend on an annualized basis and a yield of 1.23%. Fortune Brands Innovations’s payout ratio is 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.