Trajan Wealth LLC Buys New Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Trajan Wealth LLC purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,698 shares of the company’s stock, valued at approximately $242,000.

Other large investors also recently bought and sold shares of the company. Family Firm Inc. purchased a new stake in Fortune Brands Innovations during the second quarter worth approximately $31,000. LRI Investments LLC acquired a new position in Fortune Brands Innovations in the 1st quarter worth $34,000. Brown Brothers Harriman & Co. boosted its position 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 buying an additional 437 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Fortune Brands Innovations during the first quarter valued at about $51,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Fortune Brands Innovations during the second quarter valued at about $54,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $84.03 on Thursday. The stock has a market cap of $10.43 billion, a P/E ratio of 23.80, a P/E/G ratio of 2.76 and a beta of 1.51. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The firm’s 50-day simple moving average is $84.55 and its 200 day simple moving average is $75.92. Fortune Brands Innovations, Inc. has a fifty-two week low of $55.47 and a fifty-two week high of $90.54.

Fortune Brands Innovations Announces Dividend

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 paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.14%. Fortune Brands Innovations’s dividend payout ratio is presently 27.20%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Loop Capital reduced their price target on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. The Goldman Sachs Group lifted their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada raised their price target on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Robert W. Baird boosted their price objective on Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, BMO Capital Markets increased their target price on 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. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $90.20.

Fortune Brands Innovations Company 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.