Moors & Cabot Inc. Makes New Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Moors & Cabot Inc. bought a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 3,196 shares of the company’s stock, valued at approximately $230,000.

Several other large investors have also recently added to or reduced their stakes in FBIN. Cetera Advisor Networks LLC acquired a new position in shares of Fortune Brands Innovations during the second quarter valued at $667,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Fortune Brands Innovations during the second quarter valued at $58,776,000. Citigroup Inc. acquired a new position in shares of Fortune Brands Innovations during the second quarter valued at $25,022,000. Dimensional Fund Advisors LP acquired a new position in shares of Fortune Brands Innovations during the second quarter valued at $142,667,000. Finally, Veritable L.P. acquired a new position in shares of Fortune Brands Innovations during the second quarter valued at $327,000. 87.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FBIN shares. Truist Financial lowered their price target on Fortune Brands Innovations from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Jefferies Financial Group lowered their target price on Fortune Brands Innovations from $90.00 to $88.00 in a report on Thursday, October 12th. Barclays lowered their target price on Fortune Brands Innovations from $74.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Royal Bank of Canada lowered their target price on Fortune Brands Innovations from $74.00 to $63.00 and set a “sector perform” rating on the stock in a report on Thursday, October 26th. Finally, The Goldman Sachs Group lowered their target price on Fortune Brands Innovations from $77.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $67.75.

Fortune Brands Innovations Trading Down 1.7 %

Shares of NYSE FBIN opened at $66.10 on Tuesday. Fortune Brands Innovations, Inc. has a one year low of $49.51 and a one year high of $77.14. The firm has a market capitalization of $8.34 billion, a PE ratio of 19.56, a PEG ratio of 3.63 and a beta of 1.54. The company has a current ratio of 1.80, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The business has a 50-day moving average price of $61.11 and a two-hundred day moving average price of $65.72.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. Fortune Brands Innovations had a return on equity of 24.05% and a net margin of 9.42%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. As a group, analysts predict that Fortune Brands Innovations, Inc. will post 3.87 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.92 annualized dividend and a dividend yield of 1.39%. Fortune Brands Innovations’s dividend payout ratio is 27.22%.

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 two segments: Water Innovations; and Outdoors & Security. The Water Innovations segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, and Shaws brands.