Point72 DIFC Ltd Makes New Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Point72 DIFC Ltd bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,135 shares of the company’s stock, valued at approximately $818,000.

Several other large investors also recently bought and sold shares of FBIN. FMR LLC grew its position in Fortune Brands Innovations by 104.5% during the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after purchasing an additional 3,024,950 shares during the last quarter. Select Equity Group L.P. lifted its position 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 acquiring an additional 2,075,673 shares during the period. D. E. Shaw & Co. Inc. grew its stake in shares of Fortune Brands Innovations by 12,402.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock valued at $21,921,000 after purchasing an additional 334,865 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Fortune Brands Innovations in the second quarter valued at approximately $20,857,000. Finally, Robeco Schweiz AG raised its stake in shares of Fortune Brands Innovations by 26.5% during the second quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock worth $58,873,000 after purchasing an additional 189,635 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 0.8 %

Shares of FBIN opened at $78.65 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 2.52 and a beta of 1.47. The firm has a 50 day simple moving average of $83.08 and a 200-day simple moving average of $76.74.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the business posted $1.19 earnings per share. Fortune Brands Innovations’s revenue was down 8.4% compared to the same quarter last year. Equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.96 annualized dividend and a dividend yield of 1.22%. Fortune Brands Innovations’s dividend payout ratio is currently 27.04%.

Wall Street Analysts Forecast Growth

FBIN has been the topic of a number of analyst reports. BMO Capital Markets lifted their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group boosted their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI reduced their price objective on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Barclays boosted their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, UBS Group reduced their price target on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $91.36.

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.