Prime Capital Investment Advisors LLC Sells 230 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Prime Capital Investment Advisors LLC lowered its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,748 shares of the company’s stock after selling 230 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Fortune Brands Innovations were worth $425,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FBIN. Entropy Technologies LP purchased a new position in Fortune Brands Innovations during the third quarter valued at $737,000. Ridgecrest Wealth Partners LLC bought a new position in shares of Fortune Brands Innovations in the 3rd quarter worth about $271,000. Arvest Investments Inc. lifted its position in Fortune Brands Innovations by 1.1% during the 3rd quarter. Arvest Investments Inc. now owns 20,309 shares of the company’s stock valued at $1,818,000 after acquiring an additional 218 shares during the period. Legacy Capital Wealth Partners LLC purchased a new position in Fortune Brands Innovations during the 3rd quarter valued at about $259,000. Finally, Covestor Ltd boosted its stake in Fortune Brands Innovations by 1,426.9% during the third quarter. Covestor Ltd now owns 1,985 shares of the company’s stock worth $178,000 after acquiring an additional 1,855 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FBIN. Evercore ISI decreased their target price on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. 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. Barclays boosted their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. BMO Capital Markets increased their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, UBS Group lowered their price target on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus target price of $91.36.

Fortune Brands Innovations Price Performance

FBIN opened at $73.95 on Friday. The company’s 50-day simple moving average is $84.82 and its two-hundred day simple moving average is $76.40. 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 stock has a market capitalization of $9.19 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.41 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 52-week low of $62.54 and a 52-week high of $90.54.

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

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 27.04%.

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.