Arvest Investments Inc. Increases Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Arvest Investments Inc. lifted its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,309 shares of the company’s stock after purchasing an additional 218 shares during the period. Arvest Investments Inc.’s holdings in Fortune Brands Innovations were worth $1,818,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Family Firm Inc. purchased a new position in Fortune Brands Innovations in the 2nd quarter valued at about $31,000. LRI Investments LLC acquired a new stake in Fortune Brands Innovations during the first quarter worth approximately $34,000. Brown Brothers Harriman & Co. grew its stake in Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after acquiring an additional 437 shares during the period. Pathway Financial Advisers LLC acquired a new position in Fortune Brands Innovations in the 1st quarter valued at $51,000. Finally, Rothschild Investment LLC purchased a new position in shares of Fortune Brands Innovations during the 2nd quarter worth $54,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Down 0.1 %

Shares of NYSE:FBIN traded down $0.07 during midday trading on Friday, hitting $79.05. 1,499,190 shares of the company’s stock traded hands, compared to its average volume of 1,005,199. Fortune Brands Innovations, Inc. has a twelve month low of $59.72 and a twelve month high of $90.54. The company has a market cap of $9.81 billion, a PE ratio of 22.27, a P/E/G ratio of 2.66 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The firm’s fifty day moving average price is $84.99 and its two-hundred day moving average price is $76.33.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results 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. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.44% and a net margin of 9.61%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 earnings per share. On average, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.21%. Fortune Brands Innovations’s dividend payout ratio is currently 27.04%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Evercore ISI lowered their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday. Barclays lifted their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. UBS Group dropped their price objective on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday. The Goldman Sachs Group raised their target price on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Truist Financial upped their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Fortune Brands Innovations currently has an average rating of “Hold” and an average target price of $91.36.

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.