6,039 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Purchased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,039 shares of the company’s stock, valued at approximately $541,000.

Other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Fortune Brands Innovations in the third quarter valued at $25,000. Family Firm Inc. acquired a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at $31,000. Brown Brothers Harriman & Co. raised its stake in shares of Fortune Brands Innovations by 526.5% in the 2nd 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. Rothschild Investment LLC bought a new position in shares of Fortune Brands Innovations during the 2nd quarter worth about $54,000. Finally, Blue Trust Inc. boosted its position in shares of Fortune Brands Innovations by 37.0% during the 2nd quarter. Blue Trust Inc. now owns 899 shares of the company’s stock valued at $58,000 after acquiring an additional 243 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 0.2 %

Shares of NYSE FBIN opened at $78.12 on Tuesday. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54. The firm’s 50-day simple moving average is $83.58 and its 200 day simple moving average is $76.65. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. The company has a market cap of $9.70 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The company had revenue of $1.16 billion for 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 quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 earnings per share. On average, research 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. Stockholders 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 annualized dividend and a dividend yield of 1.23%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 27.04%.

Analyst Ratings Changes

A number of research analysts have commented on FBIN shares. Barclays raised their price target 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. BMO Capital Markets raised their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Truist Financial boosted 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. UBS Group dropped their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Robert W. Baird cut 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. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and a consensus price target of $91.36.

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.