2,350 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Purchased by Saturna Capital Corp

Saturna Capital Corp bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,350 shares of the company’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aptus Capital Advisors LLC bought a new stake in Fortune Brands Innovations in the third quarter valued at approximately $257,000. Entropy Technologies LP bought a new stake in Fortune Brands Innovations in the third quarter valued at approximately $737,000. Ridgecrest Wealth Partners LLC bought a new stake in Fortune Brands Innovations in the third quarter valued at approximately $271,000. Arvest Investments Inc. raised its stake in Fortune Brands Innovations by 1.1% in the third quarter. Arvest Investments Inc. now owns 20,309 shares of the company’s stock valued at $1,818,000 after buying an additional 218 shares during the period. Finally, Legacy Capital Wealth Partners LLC bought a new stake in Fortune Brands Innovations in the third quarter valued at approximately $259,000. Institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FBIN shares. Royal Bank of Canada upped their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Jefferies Financial Group upped their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI decreased their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $91.36.

Fortune Brands Innovations Trading Down 2.8 %

Shares of NYSE:FBIN opened at $76.20 on Wednesday. The company has a market capitalization 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. Fortune Brands Innovations, Inc. has a 1 year low of $59.72 and a 1 year high of $90.54. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The business’s 50 day simple moving average is $84.95 and its 200 day simple moving average is $76.40.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (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 return on equity of 22.22% and a net margin of 9.61%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 earnings per share. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.18 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is presently 27.04%.

Fortune Brands Innovations 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.