Captrust Financial Advisors Trims Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Captrust Financial Advisors cut its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 38,783 shares of the company’s stock after selling 787 shares during the quarter. Captrust Financial Advisors’ holdings in Fortune Brands Innovations were worth $3,472,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Capstone Investment Advisors LLC purchased a new position in shares of Fortune Brands Innovations in the 3rd quarter worth about $242,000. Northwest & Ethical Investments L.P. raised its holdings in shares of Fortune Brands Innovations by 22.2% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 42,240 shares of the company’s stock worth $3,782,000 after purchasing an additional 7,673 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Fortune Brands Innovations by 11.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock worth $111,650,000 after purchasing an additional 130,170 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Fortune Brands Innovations by 5.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 381,827 shares of the company’s stock worth $34,185,000 after purchasing an additional 21,362 shares during the period. Finally, Townsquare Capital LLC raised its holdings in shares of Fortune Brands Innovations by 13.6% in the 3rd quarter. Townsquare Capital LLC now owns 6,766 shares of the company’s stock worth $606,000 after purchasing an additional 810 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FBIN. Barclays increased their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Robert W. Baird lowered their target price on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Truist Financial increased their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their target price 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 lowered their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $79.25 on Thursday. The firm has a market cap of $9.85 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.50 and a beta of 1.47. The business has a 50 day moving average price of $83.23 and a two-hundred day moving average price of $76.72. 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 fifty-two week low of $62.54 and a fifty-two week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.15 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The business’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 EPS. Sell-side 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 company also recently announced 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 is Friday, November 22nd. This represents a $0.96 annualized dividend and a dividend yield of 1.21%. Fortune Brands Innovations’s payout ratio is 27.04%.

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.