Fortune Brands Innovations, Inc. $FBIN Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 296.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,916 shares of the company’s stock after buying an additional 9,657 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Fortune Brands Innovations were worth $690,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Elevation Point Wealth Partners LLC acquired a new position in Fortune Brands Innovations in the second quarter valued at $26,000. Hilltop National Bank purchased a new position in shares of Fortune Brands Innovations in the 3rd quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Fortune Brands Innovations by 158.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after purchasing an additional 323 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth about $34,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Fortune Brands Innovations during the 2nd quarter worth approximately $37,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $54.14 on Friday. The firm has a fifty day simple moving average of $53.50 and a 200-day simple moving average of $53.83. The company has a market capitalization of $6.50 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 3.75 and a beta of 1.40. Fortune Brands Innovations, Inc. has a twelve month low of $44.04 and a twelve month high of $73.36. The company has a current ratio of 1.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.12.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.01). The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. Fortune Brands Innovations had a return on equity of 19.28% and a net margin of 7.30%.The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 EPS. Equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Friday, February 20th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, February 20th. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. Fortune Brands Innovations’s dividend payout ratio is presently 37.31%.

Wall Street Analyst Weigh In

Several research analysts recently commented on FBIN shares. Royal Bank Of Canada restated an “outperform” rating and issued a $62.00 price target on shares of Fortune Brands Innovations in a report on Friday, January 9th. UBS Group cut their target price on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Monday, December 29th. Evercore ISI reiterated an “outperform” rating on shares of Fortune Brands Innovations in a report on Friday, October 31st. Finally, Barclays boosted their price objective on Fortune Brands Innovations from $63.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.33.

About Fortune Brands Innovations

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.