Rise Advisors LLC Buys New Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Rise Advisors LLC bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 450 shares of the company’s stock, valued at approximately $38,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FBIN. Tobam boosted its holdings in Fortune Brands Innovations by 1,181.5% in the fourth quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after acquiring an additional 319 shares in the last quarter. Sound Income Strategies LLC bought a new position in Fortune Brands Innovations in the fourth quarter worth approximately $27,000. Principal Securities Inc. bought a new position in Fortune Brands Innovations in the fourth quarter worth approximately $29,000. Operose Advisors LLC bought a new position in Fortune Brands Innovations in the third quarter worth approximately $31,000. Finally, First United Bank & Trust bought a new position in Fortune Brands Innovations in the fourth quarter worth approximately $38,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of Fortune Brands Innovations stock opened at $67.56 on Friday. The company has a market cap of $8.45 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.86 and a beta of 1.57. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week high of $84.92. The business has a 50 day moving average price of $71.52 and a 200-day moving average price of $76.28. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. Fortune Brands Innovations’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $0.69 earnings per share. Equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.31 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, May 23rd. Fortune Brands Innovations’s payout ratio is 29.36%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FBIN shares. Robert W. Baird increased their price target on Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Evercore ISI cut their price target on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, May 1st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $79.22.

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.