Paloma Partners Management Co Acquires Shares of 9,759 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Paloma Partners Management Co bought a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 9,759 shares of the company’s stock, valued at approximately $874,000.

Several other large investors have also added to or reduced their stakes in FBIN. Brooklyn Investment Group purchased a new stake in shares of Fortune Brands Innovations in the third quarter worth approximately $25,000. Family Firm Inc. bought a new position in Fortune Brands Innovations during the 2nd quarter valued at $31,000. Brown Brothers Harriman & Co. boosted its holdings in Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after acquiring an additional 437 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth $54,000. Finally, Blue Trust Inc. raised its holdings in shares of Fortune Brands Innovations by 37.0% in the second quarter. Blue Trust Inc. now owns 899 shares of the company’s stock valued at $58,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 0.2 %

Fortune Brands Innovations stock opened at $78.12 on Tuesday. The firm has a market capitalization of $9.70 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 2.51 and a beta of 1.51. The firm has a 50 day simple moving average of $83.58 and a 200 day simple moving average of $76.65. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95.

Fortune Brands Innovations (NYSE:FBIN) last released 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 return on equity of 22.22% and a net margin of 9.61%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the company posted $1.19 EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, analysts predict that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a $0.24 dividend. 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 1.23%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 27.04%.

Analyst Ratings Changes

FBIN has been the subject of a number of recent analyst reports. Evercore ISI reduced their price objective 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. Robert W. Baird decreased their price target on 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 boosted their price objective on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upped their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, UBS Group cut their price target on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Seven 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, Fortune Brands Innovations presently 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.