Janney Montgomery Scott LLC Acquires 1,001 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Janney Montgomery Scott LLC grew its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 10.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,343 shares of the company’s stock after buying an additional 1,001 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Fortune Brands Innovations were worth $926,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Van ECK Associates Corp boosted its stake in Fortune Brands Innovations by 1,074.0% during the second quarter. Van ECK Associates Corp now owns 37,367 shares of the company’s stock worth $2,426,000 after buying an additional 34,184 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Fortune Brands Innovations by 17.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock worth $5,052,000 after purchasing an additional 8,836 shares during the period. Hillsdale Investment Management Inc. bought a new position in Fortune Brands Innovations during the 1st quarter valued at about $624,000. Qsemble Capital Management LP raised its position in Fortune Brands Innovations by 1,091.8% in the 2nd quarter. Qsemble Capital Management LP now owns 28,459 shares of the company’s stock worth $1,848,000 after purchasing an additional 26,071 shares during the period. Finally, Signature Estate & Investment Advisors LLC bought a new stake in Fortune Brands Innovations in the second quarter worth about $421,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 1.5 %

NYSE FBIN opened at $73.95 on Friday. The company’s 50-day simple moving average is $84.82 and its two-hundred day simple moving average is $76.40. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 2.41 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue was down 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.19 earnings per share. Equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 27.04%.

Analyst Upgrades and Downgrades

FBIN has been the topic of a number of analyst reports. UBS Group cut their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Evercore ISI dropped their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. BMO Capital Markets boosted their target price on shares of 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. JPMorgan Chase & Co. raised their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group boosted their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.