Natixis Advisors LLC Buys 10,069 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Natixis Advisors LLC boosted its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 20.7% in the third quarter, Holdings Channel reports. The firm owned 58,728 shares of the company’s stock after purchasing an additional 10,069 shares during the quarter. Natixis Advisors LLC’s holdings in Fortune Brands Innovations were worth $5,258,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Family Firm Inc. bought a new position in Fortune Brands Innovations during the second quarter worth about $31,000. LRI Investments LLC bought a new position in Fortune Brands Innovations during the first quarter worth about $34,000. Brown Brothers Harriman & Co. lifted its stake in Fortune Brands Innovations by 526.5% during the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after purchasing an additional 437 shares during the period. Pathway Financial Advisers LLC bought a new position in Fortune Brands Innovations during the first quarter worth about $51,000. Finally, Rothschild Investment LLC bought a new position in Fortune Brands Innovations during the second quarter worth about $54,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of Fortune Brands Innovations stock 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. The firm has a market cap of $9.50 billion, a P/E ratio of 21.55, a P/E/G ratio of 2.36 and a beta of 1.51. The firm has a 50 day simple moving average of $84.29 and a 200 day simple moving average of $76.46. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54.

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

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be issued 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 presently 27.04%.

Analyst Ratings Changes

A number of brokerages have commented on FBIN. JPMorgan Chase & Co. raised their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Robert W. Baird dropped their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. 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 report on Thursday, November 7th. Jefferies Financial Group raised their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets raised their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Fortune Brands Innovations currently has an average rating of “Hold” and a consensus target price of $91.36.

About Fortune Brands Innovations

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.