Gamco Investors INC. ET AL Has $17.90 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Gamco Investors INC. ET AL lowered its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 211,428 shares of the company’s stock after selling 6,700 shares during the period. Gamco Investors INC. ET AL owned 0.17% of Fortune Brands Innovations worth $17,902,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FBIN. Choreo LLC bought a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at approximately $422,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Fortune Brands Innovations by 24.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,137 shares of the company’s stock valued at $4,607,000 after acquiring an additional 12,217 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in shares of Fortune Brands Innovations by 383.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 39,596 shares of the company’s stock valued at $3,015,000 after acquiring an additional 31,406 shares during the period. Schroder Investment Management Group boosted its position in shares of Fortune Brands Innovations by 3.6% in the fourth quarter. Schroder Investment Management Group now owns 620,402 shares of the company’s stock valued at $47,237,000 after acquiring an additional 21,517 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Fortune Brands Innovations by 9.0% in the fourth quarter. Allianz Asset Management GmbH now owns 841,545 shares of the company’s stock valued at $64,075,000 after acquiring an additional 69,502 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 9.1 %

FBIN stock traded up $6.57 during midday trading on Friday, reaching $78.74. The stock had a trading volume of 3,359,184 shares, compared to its average volume of 1,580,916. The business has a fifty day simple moving average of $68.23 and a two-hundred day simple moving average of $74.83. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 2.40 and a beta of 1.52. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. Fortune Brands Innovations had a return on equity of 23.10% and a net margin of 9.39%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. As a group, research analysts expect that Fortune Brands Innovations, Inc. will post 4.26 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Friday, August 23rd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 29.36%.

Wall Street Analysts Forecast Growth

FBIN has been the subject of several research reports. Loop Capital reduced their target price on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Evercore ISI reduced their target price on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group raised their target price on Fortune Brands Innovations from $75.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird increased their price objective on Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Truist Financial increased their price objective on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $83.11.

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.