New England Research & Management Inc. Makes New $206,000 Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

New England Research & Management Inc. bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,300 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors have also recently made changes to their positions in FBIN. Van ECK Associates Corp lifted its holdings in shares of Fortune Brands Innovations by 1,074.0% in the 2nd quarter. Van ECK Associates Corp now owns 37,367 shares of the company’s stock worth $2,426,000 after acquiring an additional 34,184 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Fortune Brands Innovations by 17.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock valued at $5,052,000 after buying an additional 8,836 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of Fortune Brands Innovations during the first quarter valued at approximately $624,000. Qsemble Capital Management LP raised its holdings in shares of Fortune Brands Innovations by 1,091.8% in the second quarter. Qsemble Capital Management LP now owns 28,459 shares of the company’s stock worth $1,848,000 after buying an additional 26,071 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Fortune Brands Innovations during the 4th quarter worth approximately $6,330,000. Institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

FBIN has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Barclays lifted their price objective on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Loop Capital dropped their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. The Goldman Sachs Group boosted their price target on Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada lifted their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and a consensus target price of $83.20.

Fortune Brands Innovations Stock Down 0.0 %

Fortune Brands Innovations stock opened at $86.82 on Tuesday. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $90.54. The business has a fifty day moving average of $80.65 and a two-hundred day moving average of $75.15. The firm has a market cap of $10.86 billion, a P/E ratio of 26.55, 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 (NYSE:FBIN) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 earnings per share. On average, analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid 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 dividend yield of 1.11%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.36%.

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.