Assenagon Asset Management S.A. Boosts Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Assenagon Asset Management S.A. increased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,754 shares of the company’s stock after purchasing an additional 385 shares during the period. Assenagon Asset Management S.A.’s holdings in Fortune Brands Innovations were worth $803,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CIBC Asset Management Inc raised its holdings in Fortune Brands Innovations by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock valued at $323,000 after buying an additional 121 shares during the last quarter. Smithfield Trust Co raised its stake in shares of Fortune Brands Innovations by 4.6% during the third quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock valued at $271,000 after acquiring an additional 133 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of Fortune Brands Innovations by 2.9% during the third quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock worth $502,000 after purchasing an additional 164 shares during the period. CWM LLC grew its stake in shares of Fortune Brands Innovations by 8.3% in the third quarter. CWM LLC now owns 2,199 shares of the company’s stock worth $197,000 after purchasing an additional 169 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Fortune Brands Innovations by 0.5% during the 3rd quarter. Van ECK Associates Corp now owns 37,540 shares of the company’s stock valued at $3,254,000 after purchasing an additional 173 shares during the period. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

FBIN stock opened at $72.51 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 firm has a 50 day moving average price of $73.49 and a 200-day moving average price of $77.97. Fortune Brands Innovations, Inc. has a 52-week low of $62.54 and a 52-week high of $90.54. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.17 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the business earned $1.19 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.38%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is 27.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial increased their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. UBS Group reduced their price objective on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Evercore ISI decreased 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 report on Thursday, November 7th. BMO Capital Markets lifted their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Barclays decreased their price target on shares of Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Six 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, the stock presently has a consensus rating of “Hold” and an average target price of $89.36.

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.