Geneva Capital Management LLC Has $6.75 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Geneva Capital Management LLC lowered its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.3% in the third quarter, Holdings Channel reports. The firm owned 75,353 shares of the company’s stock after selling 1,781 shares during the quarter. Geneva Capital Management LLC’s holdings in Fortune Brands Innovations were worth $6,746,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Select Equity Group L.P. increased 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 valued at $410,866,000 after acquiring an additional 2,075,673 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Fortune Brands Innovations by 12,402.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock valued at $21,921,000 after buying an additional 334,865 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Fortune Brands Innovations during the second quarter worth $20,857,000. Robeco Schweiz AG lifted its stake in Fortune Brands Innovations by 26.5% in the second quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock valued at $58,873,000 after acquiring an additional 189,635 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Fortune Brands Innovations by 71.0% in the second quarter. AQR Capital Management LLC now owns 415,255 shares of the company’s stock valued at $26,967,000 after acquiring an additional 172,435 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Price Performance

FBIN stock opened at $76.20 on Wednesday. The company’s 50-day moving average price is $84.95 and its two-hundred day moving average price is $76.40. The firm has a market cap of $9.47 billion, a P/E ratio of 21.46, a P/E/G ratio of 2.51 and a beta of 1.51. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. Fortune Brands Innovations, Inc. has a 12 month low of $59.72 and a 12 month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data 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 analysts’ expectations of $1.24 billion. During the same period last year, the firm posted $1.19 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.18 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 annualized dividend and a dividend yield of 1.26%. Fortune Brands Innovations’s dividend payout ratio is currently 27.04%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Truist Financial boosted their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays raised their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. BMO Capital Markets increased their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group lifted their target price 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, UBS Group reduced their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $91.36.

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.