Commerce Bank Has $2.48 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Commerce Bank grew its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,646 shares of the company’s stock after buying an additional 2,192 shares during the period. Commerce Bank’s holdings in Fortune Brands Innovations were worth $2,475,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in Fortune Brands Innovations during the first quarter worth approximately $34,000. Family Firm Inc. acquired a new stake in Fortune Brands Innovations during the 2nd quarter worth approximately $31,000. Brown Brothers Harriman & Co. boosted 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 valued at $34,000 after purchasing 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 bought a new position in Fortune Brands Innovations during the 2nd quarter worth $54,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FBIN shares. UBS Group decreased their price target on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets increased their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Barclays lifted their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Evercore ISI reduced their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Finally, Robert W. Baird dropped their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and a consensus target price of $91.36.

Fortune Brands Innovations Stock Up 1.3 %

Shares of FBIN opened at $76.50 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The company has a market cap of $9.50 billion, a P/E ratio of 21.55, a P/E/G ratio of 2.43 and a beta of 1.51. The firm has a 50 day simple moving average of $84.29 and a two-hundred day simple moving average of $76.49.

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

Fortune Brands Innovations Dividend Announcement

The business 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 1.25%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is 27.04%.

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.