Toronto Dominion Bank Grows Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Toronto Dominion Bank raised its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 30.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,775 shares of the company’s stock after buying an additional 3,655 shares during the period. Toronto Dominion Bank’s holdings in Fortune Brands Innovations were worth $1,412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FBIN. FMR LLC lifted its position in Fortune Brands Innovations by 104.5% in the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after buying an additional 3,024,950 shares during the last quarter. Select Equity Group L.P. raised its stake in shares of Fortune Brands Innovations by 48.8% during the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after acquiring an additional 2,075,673 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Fortune Brands Innovations by 12,402.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock worth $21,921,000 after acquiring an additional 334,865 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Fortune Brands Innovations in the 2nd quarter valued at $20,857,000. Finally, Robeco Schweiz AG boosted its stake in shares of Fortune Brands Innovations by 26.5% in the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock valued at $58,873,000 after purchasing an additional 189,635 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on FBIN shares. Robert W. Baird lowered their price target on shares of 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. BMO Capital Markets boosted their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group increased 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. Truist Financial lifted their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and a consensus target price of $91.36.

Fortune Brands Innovations Trading Down 1.2 %

NYSE FBIN opened at $74.93 on Tuesday. The stock’s fifty day moving average price is $81.42 and its 200-day moving average price is $77.21. 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 stock has a market cap of $9.31 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.51 and a beta of 1.47. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. Fortune Brands Innovations’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the business earned $1.19 EPS. As a group, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.33%. Fortune Brands Innovations’s dividend payout ratio is 28.17%.

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.