Atlas Capital Advisors LLC Purchases 291 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Atlas Capital Advisors LLC lifted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,687 shares of the company’s stock after purchasing an additional 291 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Fortune Brands Innovations were worth $397,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Choreo LLC bought a new position in shares of Fortune Brands Innovations in the 4th quarter worth $422,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Fortune Brands Innovations by 24.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,137 shares of the company’s stock valued at $4,607,000 after purchasing an additional 12,217 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in Fortune Brands Innovations by 383.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 39,596 shares of the company’s stock worth $3,015,000 after purchasing an additional 31,406 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Fortune Brands Innovations by 3.6% in the 4th quarter. Schroder Investment Management Group now owns 620,402 shares of the company’s stock worth $47,237,000 after purchasing an additional 21,517 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Fortune Brands Innovations by 9.0% during the 4th quarter. Allianz Asset Management GmbH now owns 841,545 shares of the company’s stock valued at $64,075,000 after buying an additional 69,502 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 0.4 %

NYSE:FBIN opened at $65.46 on Friday. The company has a market cap of $8.19 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 1.76 and a beta of 1.57. The company has a current ratio of 2.04, a quick ratio of 1.08 and a debt-to-equity ratio of 1.33. The company has a 50 day simple moving average of $70.34 and a two-hundred day simple moving average of $75.98. Fortune Brands Innovations, Inc. has a 12 month low of $54.10 and a 12 month high of $84.92.

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

Fortune Brands Innovations Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.96 annualized dividend and a yield of 1.47%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.36%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FBIN. Robert W. Baird lifted their price target on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI cut their price target on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Fortune Brands Innovations currently has an average rating of “Hold” and an average price target of $80.38.

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.