Caprock Group LLC Trims Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Caprock Group LLC decreased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,708 shares of the company’s stock after selling 480 shares during the period. Caprock Group LLC’s holdings in Fortune Brands Innovations were worth $422,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FBIN. Natixis Advisors LLC lifted its holdings in shares of Fortune Brands Innovations by 20.7% in the third quarter. Natixis Advisors LLC now owns 58,728 shares of the company’s stock worth $5,258,000 after buying an additional 10,069 shares in the last quarter. Empowered Funds LLC increased its holdings in Fortune Brands Innovations by 5.8% during the 3rd quarter. Empowered Funds LLC now owns 8,224 shares of the company’s stock worth $736,000 after acquiring an additional 452 shares during the period. CIBC Asset Management Inc lifted its stake in Fortune Brands Innovations by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after purchasing an additional 121 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new position in Fortune Brands Innovations in the 3rd quarter valued at $241,000. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of Fortune Brands Innovations by 5.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,041 shares of the company’s stock valued at $451,000 after purchasing an additional 261 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 1.3 %

NYSE FBIN opened at $76.50 on Friday. The firm has a market cap of $9.50 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 2.43 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The stock has a 50-day moving average of $84.29 and a 200-day moving average of $76.49. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The business’s revenue was down 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 27.04%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FBIN. Jefferies Financial Group increased their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. 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. Evercore ISI decreased their price objective on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Finally, BMO Capital Markets boosted their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Seven equities 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, the stock currently has an average rating of “Hold” and a consensus target price of $91.36.

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.