Park Avenue Securities LLC Takes $235,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Park Avenue Securities LLC bought a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,775 shares of the company’s stock, valued at approximately $235,000.

A number of other institutional investors have also added to or reduced their stakes in FBIN. Rise Advisors LLC purchased a new position in shares of Fortune Brands Innovations in the 1st quarter worth about $38,000. GAMMA Investing LLC grew its position in Fortune Brands Innovations by 8.9% during the first quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock valued at $139,000 after acquiring an additional 134 shares during the last quarter. Summit Financial Group Inc. purchased a new position in shares of Fortune Brands Innovations during the first quarter worth approximately $203,000. ICA Group Wealth Management LLC bought a new stake in shares of Fortune Brands Innovations in the 4th quarter worth approximately $41,000. Finally, Royal London Asset Management Ltd. boosted its stake in shares of Fortune Brands Innovations by 23.6% in the 4th quarter. Royal London Asset Management Ltd. now owns 53,238 shares of the company’s stock valued at $4,054,000 after purchasing an additional 10,171 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 2.3 %

FBIN opened at $63.44 on Tuesday. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $84.92. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.04 and a quick ratio of 1.08. The business has a 50 day simple moving average of $69.98 and a two-hundred day simple moving average of $75.82. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.79 and a beta of 1.52.

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

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Thursday, May 23rd. Fortune Brands Innovations’s payout ratio is 29.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Robert W. Baird boosted 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 dropped their target price on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $80.38.

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.