Fortune Brands Innovations, Inc. (NYSE:FBIN) Holdings Boosted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,600 shares of the company’s stock after purchasing an additional 800 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Fortune Brands Innovations were worth $859,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FBIN. Select Equity Group L.P. grew its stake in Fortune Brands Innovations by 48.8% during the 2nd quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after buying 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% during the second quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock valued at $21,921,000 after acquiring an additional 334,865 shares during the period. Renaissance Technologies LLC bought a new position in shares of Fortune Brands Innovations during the second quarter worth about $20,857,000. Robeco Schweiz AG increased its holdings 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 acquiring an additional 189,635 shares during the period. Finally, AQR Capital Management LLC lifted its position in Fortune Brands Innovations by 71.0% in the 2nd quarter. AQR Capital Management LLC now owns 415,255 shares of the company’s stock valued at $26,967,000 after purchasing an additional 172,435 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on FBIN. UBS Group decreased their target price on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Barclays increased their price objective on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Truist Financial lifted 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. Evercore ISI decreased their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price objective on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $91.36.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $78.31 on Friday. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week 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. The stock has a market cap of $9.73 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 2.50 and a beta of 1.51. The company’s 50-day moving average price is $83.75 and its two-hundred day moving average price is $76.59.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS. As a group, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is presently 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.