600 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the first quarter, HoldingsChannel reports. The fund acquired 600 shares of the company’s stock, valued at approximately $51,000.

A number of other institutional investors have also recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. grew its position in shares of Fortune Brands Innovations by 1.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 25,686 shares of the company’s stock worth $1,956,000 after buying an additional 395 shares during the period. Blue Trust Inc. increased its stake in Fortune Brands Innovations by 34.5% in the fourth quarter. Blue Trust Inc. now owns 873 shares of the company’s stock valued at $66,000 after purchasing an additional 224 shares in the last quarter. Oak Thistle LLC raised its holdings in Fortune Brands Innovations by 5.8% in the fourth quarter. Oak Thistle LLC now owns 7,201 shares of the company’s stock worth $548,000 after purchasing an additional 394 shares during the period. State of Michigan Retirement System boosted its position in shares of Fortune Brands Innovations by 3.0% during the fourth quarter. State of Michigan Retirement System now owns 34,142 shares of the company’s stock worth $2,600,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Fortune Brands Innovations by 0.9% in the 4th quarter. Arizona State Retirement System now owns 34,875 shares of the company’s stock valued at $2,655,000 after buying an additional 305 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 3.2 %

Fortune Brands Innovations stock traded down $2.53 during mid-day trading on Friday, reaching $76.59. The company’s stock had a trading volume of 1,493,516 shares, compared to its average volume of 1,784,317. The business’s 50 day simple moving average is $69.07 and its 200 day simple moving average is $74.87. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. Fortune Brands Innovations, Inc. has a 12 month low of $54.10 and a 12 month high of $84.92. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 2.49 and a beta of 1.52.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the company earned $1.07 EPS. Fortune Brands Innovations’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 23rd will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, August 23rd. Fortune Brands Innovations’s payout ratio is presently 29.36%.

Wall Street Analyst Weigh In

Several analysts recently commented on FBIN shares. The Goldman Sachs Group raised their price objective on Fortune Brands Innovations from $75.00 to $86.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Robert W. Baird boosted their price objective on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Loop Capital dropped their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Finally, Royal Bank of Canada upped their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of “Hold” and a consensus price target of $83.20.

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.