2,395 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Acquired by Courier Capital LLC

Courier Capital LLC purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 2,395 shares of the company’s stock, valued at approximately $214,000.

Several other large investors have also modified their holdings of the stock. Private Advisor Group LLC boosted its position in shares of Fortune Brands Innovations by 25.7% in the third quarter. Private Advisor Group LLC now owns 7,867 shares of the company’s stock worth $704,000 after buying an additional 1,609 shares during the period. Signaturefd LLC lifted its position in Fortune Brands Innovations by 10.0% in the 3rd quarter. Signaturefd LLC now owns 2,092 shares of the company’s stock worth $187,000 after buying an additional 191 shares in the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of Fortune Brands Innovations by 31.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after acquiring an additional 216 shares in the last quarter. Venture Visionary Partners LLC purchased a new stake in shares of Fortune Brands Innovations during the third quarter worth $239,000. Finally, Prio Wealth Limited Partnership acquired a new stake in Fortune Brands Innovations during the third quarter valued at $237,000. 87.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Loop Capital lowered their price target 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. Truist Financial upped their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. BMO Capital Markets raised their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday. Robert W. Baird increased their price target on Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a report on Monday. Finally, Barclays upped their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $90.20.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $87.88 on Friday. The firm has a market cap of $10.99 billion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 2.79 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The stock’s fifty day simple moving average is $83.95 and its 200 day simple moving average is $75.77. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, July 25th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $1.07 EPS. Fortune Brands Innovations’s revenue was up 6.6% compared to the same quarter last year. On average, analysts expect that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is presently 29.36%.

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.