Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,600 shares of the company’s stock after buying an additional 800 shares during the period. Daiwa Securities Group Inc.’s holdings in Fortune Brands Innovations were worth $859,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Select Equity Group L.P. boosted its position in shares of Fortune Brands Innovations by 48.8% in the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after acquiring an additional 2,075,673 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Fortune Brands Innovations by 10.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,840,067 shares of the company’s stock valued at $119,501,000 after buying an additional 167,758 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Fortune Brands Innovations by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company’s stock worth $89,507,000 after buying an additional 24,139 shares during the last quarter. Robeco Schweiz AG raised its position in shares of Fortune Brands Innovations by 26.5% in the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock worth $58,873,000 after buying an additional 189,635 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Fortune Brands Innovations by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 853,111 shares of the company’s stock valued at $76,379,000 after acquiring an additional 4,248 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. The Goldman Sachs Group raised their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group lifted their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. 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 research report on Thursday, November 7th. Barclays raised their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI decreased their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $78.31 on Friday. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The stock has a market cap of $9.73 billion, a P/E ratio of 22.06, a PEG ratio of 2.50 and a beta of 1.51. 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 50-day moving average of $83.75 and a two-hundred day moving average of $76.59.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business posted $1.19 EPS. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, research analysts expect that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

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 paid a dividend of $0.24 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.96 annualized dividend and a yield of 1.23%. Fortune Brands Innovations’s 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.