Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. raised its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 12.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,496 shares of the company’s stock after buying an additional 377 shares during the period. Vontobel Holding Ltd.’s holdings in Fortune Brands Innovations were worth $313,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Creative Planning grew its position in shares of Fortune Brands Innovations by 3.1% during the third quarter. Creative Planning now owns 23,706 shares of the company’s stock worth $2,122,000 after buying an additional 714 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Fortune Brands Innovations by 24,221.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 23,592 shares of the company’s stock worth $2,112,000 after acquiring an additional 23,495 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new position in Fortune Brands Innovations during the 3rd quarter worth approximately $481,000. Ritholtz Wealth Management purchased a new stake in shares of Fortune Brands Innovations in the 3rd quarter valued at approximately $210,000. Finally, Gateway Investment Advisers LLC raised its holdings in shares of Fortune Brands Innovations by 45.8% in the 3rd quarter. Gateway Investment Advisers LLC now owns 23,208 shares of the company’s stock valued at $2,078,000 after purchasing an additional 7,292 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on FBIN. BMO Capital Markets increased their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday. Royal Bank of Canada boosted their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Robert W. Baird increased their price target on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday. JPMorgan Chase & Co. upped their target price on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Truist Financial lifted their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $90.20.

Fortune Brands Innovations Trading Down 0.8 %

NYSE FBIN opened at $87.44 on Wednesday. The firm’s fifty day moving average is $83.25 and its two-hundred day moving average is $75.57. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $90.54. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The firm has a market cap of $10.94 billion, a PE ratio of 26.62, a P/E/G ratio of 2.79 and a beta of 1.51.

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

Fortune Brands Innovations Dividend Announcement

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 given a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.10%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 29.36%.

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.