Aptus Capital Advisors LLC Purchases New Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Aptus Capital Advisors LLC acquired a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,868 shares of the company’s stock, valued at approximately $257,000.

Other institutional investors also recently bought and sold shares of the company. LRI Investments LLC bought a new position in shares of Fortune Brands Innovations during the 1st quarter worth $34,000. Family Firm Inc. bought a new position in Fortune Brands Innovations during the 2nd quarter worth about $31,000. Brown Brothers Harriman & Co. increased its position in Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after purchasing an additional 437 shares during the period. Pathway Financial Advisers LLC bought a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at about $51,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth approximately $54,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Down 1.5 %

FBIN stock opened at $73.95 on Friday. 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 52 week low of $62.54 and a 52 week high of $90.54. The stock has a market capitalization of $9.19 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.41 and a beta of 1.51. The firm has a 50 day moving average of $84.82 and a 200 day moving average of $76.40.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.19 earnings per share. Sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

Analyst Ratings Changes

FBIN has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. 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 research report on Thursday, November 7th. Evercore ISI decreased their price objective 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. The Goldman Sachs Group lifted their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, BMO Capital Markets increased their price target 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. Seven investment 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 company has an average rating of “Hold” and a consensus price target of $91.36.

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.