Janney Montgomery Scott LLC Buys 1,001 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Janney Montgomery Scott LLC boosted its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 10.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,343 shares of the company’s stock after purchasing an additional 1,001 shares during the period. Janney Montgomery Scott LLC’s holdings in Fortune Brands Innovations were worth $926,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Family Firm Inc. purchased a new position in shares of Fortune Brands Innovations in the 2nd quarter worth $31,000. LRI Investments LLC purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at about $34,000. Brown Brothers Harriman & Co. lifted its stake in shares of Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after purchasing an additional 437 shares during the period. Pathway Financial Advisers LLC purchased a new position in shares of Fortune Brands Innovations in the first quarter worth approximately $51,000. Finally, Rothschild Investment LLC bought a new stake in Fortune Brands Innovations during the second quarter valued at approximately $54,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

FBIN opened at $73.95 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.41 and a beta of 1.51. The company has a fifty day moving average of $84.82 and a 200 day moving average of $76.40. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 earnings per share. As a group, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 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. Stockholders of record on Friday, November 22nd will be issued 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 1.30%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

Analyst Ratings Changes

Several brokerages have recently weighed in on FBIN. BMO Capital Markets lifted their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. UBS Group decreased their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Evercore ISI reduced their price objective on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average price target of $91.36.

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.