Empowered Funds LLC Purchases 452 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Empowered Funds LLC increased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 5.8% in the third quarter, HoldingsChannel reports. The firm owned 8,224 shares of the company’s stock after buying an additional 452 shares during the period. Empowered Funds LLC’s holdings in Fortune Brands Innovations were worth $736,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its holdings 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 valued at $323,000 after acquiring an additional 121 shares during the period. Wedmont Private Capital lifted its holdings in Fortune Brands Innovations by 2.9% during the 3rd quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock worth $502,000 after purchasing an additional 164 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in Fortune Brands Innovations by 2.4% in the 2nd quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock valued at $474,000 after purchasing an additional 169 shares during the period. CWM LLC grew its holdings in Fortune Brands Innovations by 8.3% in the 3rd quarter. CWM LLC now owns 2,199 shares of the company’s stock valued at $197,000 after buying an additional 169 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Fortune Brands Innovations by 0.5% during the 3rd quarter. Van ECK Associates Corp now owns 37,540 shares of the company’s stock worth $3,254,000 after buying an additional 173 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $76.50 on Friday. The company has a market capitalization of $9.50 billion, a P/E ratio of 21.55, a P/E/G ratio of 2.43 and a beta of 1.51. The business has a fifty day simple moving average of $84.29 and a two-hundred day simple moving average of $76.49. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. Fortune Brands Innovations, Inc. has a 1 year low of $62.54 and a 1 year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Fortune Brands Innovations’s revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 EPS. On average, analysts expect that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 annualized dividend and a yield of 1.25%. Fortune Brands Innovations’s payout ratio is presently 27.04%.

Wall Street Analyst Weigh In

FBIN has been the subject of a number of recent research reports. BMO Capital Markets boosted their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group lifted their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. UBS Group reduced their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Evercore ISI decreased their price target on 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. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.