Klein Pavlis & Peasley Financial Inc. Sells 400 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Klein Pavlis & Peasley Financial Inc. trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,700 shares of the company’s stock after selling 400 shares during the period. Fortune Brands Innovations makes up 1.5% of Klein Pavlis & Peasley Financial Inc.’s portfolio, making the stock its 21st biggest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in Fortune Brands Innovations were worth $1,853,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. LRI Investments LLC acquired a new stake in shares of Fortune Brands Innovations during the first quarter worth approximately $34,000. Family Firm Inc. bought a new stake in shares of Fortune Brands Innovations during the second quarter valued at approximately $31,000. Brown Brothers Harriman & Co. grew its holdings in Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after acquiring an additional 437 shares during the period. Pathway Financial Advisers LLC acquired a new stake in Fortune Brands Innovations during the 1st quarter worth $51,000. Finally, FinTrust Capital Advisors LLC grew its holdings in Fortune Brands Innovations by 36.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 743 shares of the company’s stock worth $63,000 after acquiring an additional 200 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Down 2.7 %

Shares of NYSE FBIN opened at $85.49 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The company has a 50-day moving average price of $84.12 and a 200-day moving average price of $75.76. Fortune Brands Innovations, Inc. has a 1 year low of $54.10 and a 1 year high of $90.54. The stock has a market capitalization of $10.69 billion, a P/E ratio of 26.14, a P/E/G ratio of 2.76 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.12 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.28 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 earnings per share. On average, equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

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 dividend of $0.24 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.96 annualized dividend and a yield of 1.12%. Fortune Brands Innovations’s dividend payout ratio is currently 29.36%.

Analysts Set New Price Targets

A number of analysts have commented on FBIN shares. Jefferies Financial Group lifted their target price on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada upped their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Loop Capital decreased their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. The Goldman Sachs Group increased 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 report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $90.20.

About Fortune Brands Innovations

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.