Darwin Wealth Management LLC Invests $81,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

by · The Markets Daily

Darwin Wealth Management LLC acquired a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 900 shares of the company’s stock, valued at approximately $81,000.

A number of other hedge funds have also recently made changes to their positions in FBIN. Commerce Bank lifted its position in shares of Fortune Brands Innovations by 8.6% in the third quarter. Commerce Bank now owns 27,646 shares of the company’s stock worth $2,475,000 after buying an additional 2,192 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Fortune Brands Innovations in the third quarter worth about $1,212,000. Natixis Advisors LLC lifted its position in shares of Fortune Brands Innovations by 20.7% in the third quarter. Natixis Advisors LLC now owns 58,728 shares of the company’s stock worth $5,258,000 after buying an additional 10,069 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Fortune Brands Innovations by 5.8% in the third quarter. Empowered Funds LLC now owns 8,224 shares of the company’s stock worth $736,000 after buying an additional 452 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Fortune Brands Innovations by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after buying an additional 121 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FBIN. BMO Capital Markets boosted 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. Evercore ISI reduced their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Barclays increased their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group increased their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, UBS Group dropped their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Seven investment 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.com, the company currently has an average rating of “Hold” and an average target price of $91.36.

Read Our Latest Research Report on Fortune Brands Innovations

Fortune Brands Innovations Stock Up 1.8 %

Shares of NYSE FBIN opened at $74.89 on Thursday. 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 capitalization of $9.30 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 2.37 and a beta of 1.51. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54. The stock’s fifty day simple moving average is $84.53 and its two-hundred day simple moving average is $76.45.

Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 EPS. As a group, analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS 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. 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 dividend on an annualized basis and a dividend yield of 1.28%. Fortune Brands Innovations’s payout ratio is 27.04%.

About Fortune Brands Innovations

(Free Report)

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.

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