Tokio Marine Asset Management Co. Ltd. Purchases 261 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Tokio Marine Asset Management Co. Ltd. increased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 5.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,041 shares of the company’s stock after buying an additional 261 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Fortune Brands Innovations were worth $451,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Family Firm Inc. acquired a new stake in shares of Fortune Brands Innovations in the second quarter valued at about $31,000. LRI Investments LLC acquired a new position in shares of Fortune Brands Innovations during the 1st quarter worth approximately $34,000. Brown Brothers Harriman & Co. grew its stake in shares of 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 buying an additional 437 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in Fortune Brands Innovations during the first quarter worth $51,000. Finally, Rothschild Investment LLC bought a new stake in Fortune Brands Innovations during the second quarter worth $54,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $73.95 on Friday. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.41 and a beta of 1.51. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. 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 stock has a fifty day moving average price of $84.82 and a 200-day moving average price of $76.40.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share 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 business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the business posted $1.19 earnings per share. Fortune Brands Innovations’s revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.30%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FBIN. Jefferies Financial Group raised their target price on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays raised their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Truist Financial upped their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Evercore ISI lowered their price target 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. Finally, JPMorgan Chase & Co. boosted their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.