Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Acquired by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC lifted its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,806 shares of the company’s stock after purchasing an additional 214 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in Fortune Brands Innovations were worth $397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter worth $25,000. Quarry LP grew its position in Fortune Brands Innovations by 3,069.0% during the second quarter. Quarry LP now owns 919 shares of the company’s stock worth $60,000 after buying an additional 890 shares during the period. Raleigh Capital Management Inc. increased its holdings in Fortune Brands Innovations by 31.7% in the third quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after buying an additional 216 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at approximately $81,000. Finally, Blue Trust Inc. boosted its stake in shares of Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after acquiring an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FBIN shares. UBS Group cut their price objective on 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. Evercore ISI dropped their target price 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. Truist Financial raised their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays dropped their price target on shares of Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, 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 report on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $89.36.

Fortune Brands Innovations Stock Performance

FBIN stock opened at $74.78 on Tuesday. 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 12 month low of $62.54 and a 12 month high of $90.54. The firm has a 50 day moving average of $73.50 and a two-hundred day moving average of $78.20. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 2.17 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.01. The business had revenue of $1.16 billion during 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%. Fortune Brands Innovations’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 EPS. As a group, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 28.17%.

Fortune Brands Innovations Company 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.