Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,297 shares of the company’s stock after acquiring an additional 169 shares during the period. Summit Trail Advisors LLC’s holdings in Fortune Brands Innovations were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Fortune Brands Innovations by 8.9% in the first quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock valued at $139,000 after purchasing an additional 134 shares during the period. Choreo LLC grew its position in shares of Fortune Brands Innovations by 2.9% during the first quarter. Choreo LLC now owns 5,701 shares of the company’s stock worth $483,000 after buying an additional 163 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Fortune Brands Innovations by 2.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock worth $665,000 after buying an additional 168 shares during the period. Graypoint LLC raised its holdings in Fortune Brands Innovations by 5.7% in the second quarter. Graypoint LLC now owns 3,250 shares of the company’s stock valued at $211,000 after acquiring an additional 175 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in Fortune Brands Innovations by 10.7% in the second quarter. V Square Quantitative Management LLC now owns 1,848 shares of the company’s stock valued at $120,000 after acquiring an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 0.5 %

FBIN opened at $87.03 on Tuesday. 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, Inc. has a 52 week low of $54.10 and a 52 week high of $88.22. The business’s 50 day moving average is $77.82 and its two-hundred day moving average is $74.68. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.51.

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

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 23rd were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Friday, August 23rd. Fortune Brands Innovations’s dividend payout ratio is currently 29.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Truist Financial raised their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Loop Capital decreased their target price on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average price target of $83.20.

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.