EP Wealth Advisors LLC Invests $262,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

EP Wealth Advisors LLC acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 3rd quarter, HoldingsChannel reports. The firm acquired 2,922 shares of the company’s stock, valued at approximately $262,000.

A number of other institutional investors have also recently made changes to their positions in FBIN. Quantinno Capital Management LP lifted its position in shares of Fortune Brands Innovations by 14.8% during the third quarter. Quantinno Capital Management LP now owns 34,309 shares of the company’s stock worth $3,072,000 after acquiring an additional 4,426 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Fortune Brands Innovations in the third quarter worth $818,000. Point72 Asset Management L.P. purchased a new position in shares of Fortune Brands Innovations in the 3rd quarter worth about $11,114,000. Investment Management Corp of Ontario bought a new stake in Fortune Brands Innovations in the 3rd quarter worth approximately $370,000. Finally, Cinctive Capital Management LP purchased a new stake in Fortune Brands Innovations in the third quarter worth approximately $3,362,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial lifted their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Evercore ISI reduced their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group boosted their target price 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. Finally, Barclays increased 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. Seven equities research 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 a consensus target price of $91.36.

Fortune Brands Innovations Price Performance

FBIN opened at $75.85 on Friday. 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 market capitalization of $9.42 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 2.51 and a beta of 1.47. The stock’s 50 day moving average price is $81.66 and its 200-day moving average price is $77.04. Fortune Brands Innovations, Inc. has a 52-week low of $62.54 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate 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%. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 EPS. On average, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.32%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s payout ratio is presently 27.04%.

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.