MBB Public Markets I LLC Purchases Shares of 9,285 Fortune Brands Innovations, Inc. (NYSE:FBIN)

MBB Public Markets I LLC purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,285 shares of the company’s stock, valued at approximately $603,000.

A number of other institutional investors also recently modified their holdings of FBIN. D. E. Shaw & Co. Inc. lifted its stake in shares of Fortune Brands Innovations by 12,402.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock valued at $21,921,000 after purchasing an additional 334,865 shares during the period. Dark Forest Capital Management LP acquired a new position in Fortune Brands Innovations in the 2nd quarter worth $210,000. APG Asset Management N.V. lifted its holdings in shares of Fortune Brands Innovations by 1.7% in the second quarter. APG Asset Management N.V. now owns 539,712 shares of the company’s stock valued at $32,702,000 after purchasing an additional 9,145 shares in the last quarter. AQR Capital Management LLC boosted its position in Fortune Brands Innovations by 71.0% during the 2nd quarter. AQR Capital Management LLC now owns 415,255 shares of the company’s stock worth $26,967,000 after acquiring an additional 172,435 shares during the last quarter. Finally, AXA S.A. acquired a new position in Fortune Brands Innovations during the second quarter worth $1,752,000. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Stock Down 1.0 %

FBIN stock opened at $88.66 on Wednesday. The stock’s 50 day moving average is $79.66 and its 200-day moving average is $74.98. The firm has a market capitalization of $11.09 billion, a PE ratio of 27.11, a P/E/G ratio of 2.74 and a beta of 1.51. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. Sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be paid a $0.24 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.08%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 29.36%.

Analyst Ratings Changes

Several research firms have recently commented on FBIN. The Goldman Sachs Group increased their price objective on Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays increased their target price on Fortune Brands Innovations from $84.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial raised their target price on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upped their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Loop Capital lowered their target price on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and a consensus price target of $83.20.

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.