Janney Montgomery Scott LLC Has $729,000 Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Janney Montgomery Scott LLC boosted its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,663 shares of the company’s stock after purchasing an additional 320 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Fortune Brands Innovations were worth $729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its holdings 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 acquiring an additional 3,024,950 shares during the period. Arvest Bank Trust Division bought a new position in Fortune Brands Innovations in the 3rd quarter valued at approximately $17,621,000. Ceredex Value Advisors LLC acquired a new stake in Fortune Brands Innovations in the third quarter valued at approximately $13,170,000. Prospector Partners LLC bought a new stake in shares of Fortune Brands Innovations during the third quarter worth $11,953,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Fortune Brands Innovations by 11.7% during 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 worth $111,650,000 after buying an additional 130,170 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 1.2 %

NYSE FBIN opened at $68.20 on Friday. The stock has a market capitalization of $8.47 billion, a P/E ratio of 19.21, a P/E/G ratio of 2.09 and a beta of 1.50. The business has a 50 day simple moving average of $72.32 and a 200 day simple moving average of $78.01. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. Research analysts expect that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s payout ratio is currently 27.04%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FBIN. Robert W. Baird lowered their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Truist Financial raised their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada cut their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday. BMO Capital Markets increased their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group cut their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $86.64.

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.