Cwm LLC Acquires 169 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Cwm LLC grew its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,199 shares of the company’s stock after buying an additional 169 shares during the quarter. Cwm LLC’s holdings in Fortune Brands Innovations were worth $197,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Select Equity Group L.P. lifted its holdings in Fortune Brands Innovations by 48.8% during the 2nd quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after purchasing an additional 2,075,673 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Fortune Brands Innovations by 10.0% during 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 last quarter. Nordea Investment Management AB increased its position in shares of Fortune Brands Innovations by 6.8% in the first quarter. Nordea Investment Management AB now owns 1,480,177 shares of the company’s stock valued at $125,386,000 after acquiring an additional 94,022 shares during the period. Bank of New York Mellon Corp raised its position in Fortune Brands Innovations by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company’s stock valued at $89,507,000 after purchasing an additional 24,139 shares during the last quarter. Finally, Robeco Schweiz AG lifted its holdings in Fortune Brands Innovations by 26.5% in the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock worth $58,873,000 after buying an additional 189,635 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $86.66 on Thursday. Fortune Brands Innovations, Inc. has a 12-month low of $54.10 and a 12-month high of $90.54. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $10.84 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.79 and a beta of 1.51. The stock has a 50-day moving average price of $83.52 and a 200 day moving average price of $75.61.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data 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 business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business earned $1.07 earnings per share. Fortune Brands Innovations’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.11%. Fortune Brands Innovations’s dividend payout ratio is presently 29.36%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FBIN shares. Barclays boosted their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Robert W. Baird upped their price target on Fortune Brands Innovations from $82.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday. Loop Capital decreased their price objective on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. The Goldman Sachs Group raised their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, BMO Capital Markets increased 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. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $90.20.

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.