Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC raised its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 7.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,674 shares of the company’s stock after acquiring an additional 335 shares during the period. MML Investors Services LLC’s holdings in Fortune Brands Innovations were worth $418,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FBIN. Select Equity Group L.P. raised its stake in shares of Fortune Brands Innovations by 48.8% during the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock valued at $410,866,000 after purchasing an additional 2,075,673 shares in the last quarter. FMR LLC raised its position in shares of Fortune Brands Innovations by 104.5% during the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after buying an additional 3,024,950 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Fortune Brands Innovations by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,840,067 shares of the company’s stock worth $119,501,000 after acquiring an additional 167,758 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Fortune Brands Innovations by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company’s stock valued at $89,507,000 after acquiring an additional 24,139 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Fortune Brands Innovations by 11.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock valued at $111,650,000 after acquiring an additional 130,170 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. The Goldman Sachs Group boosted their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Truist Financial boosted their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group decreased their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Evercore ISI dropped their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Finally, BMO Capital Markets upped their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $69.65 on Tuesday. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 2.51 and a beta of 1.47. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The stock’s fifty day simple moving average is $80.05 and its 200-day simple moving average is $77.28.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The company’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 EPS. On average, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.44%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 28.17%.

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.