Prime Capital Investment Advisors LLC Sells 230 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Prime Capital Investment Advisors LLC trimmed its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,748 shares of the company’s stock after selling 230 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Fortune Brands Innovations were worth $425,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Family Firm Inc. bought a new stake in Fortune Brands Innovations in the 2nd quarter valued at about $31,000. LRI Investments LLC bought a new stake in shares of Fortune Brands Innovations in the first quarter valued at approximately $34,000. Brown Brothers Harriman & Co. raised its position 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 purchasing an additional 437 shares during the period. Pathway Financial Advisers LLC purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at approximately $51,000. Finally, Rothschild Investment LLC bought a new position in Fortune Brands Innovations in the 2nd quarter worth approximately $54,000. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Down 1.5 %

FBIN opened at $73.95 on Friday. 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 business’s fifty day simple moving average is $84.82 and its 200 day simple moving average is $76.40. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week high of $90.54. The stock has a market cap of $9.19 billion, a PE ratio of 20.83, a P/E/G ratio of 2.41 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The firm’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 EPS. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 annualized dividend and a yield of 1.30%. Fortune Brands Innovations’s payout ratio is currently 27.04%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FBIN shares. Barclays raised their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Truist Financial raised their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group decreased their price target on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Robert W. Baird cut their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their target price on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and an average price target of $91.36.

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.