German American Bancorp Inc. Makes New Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

German American Bancorp Inc. bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 2,300 shares of the company’s stock, valued at approximately $206,000.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on FBIN. Robert W. Baird dropped their price target on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. UBS Group dropped their target price on shares of 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. Truist Financial upped their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, November 7th. BMO Capital Markets lifted their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group lifted their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $91.36.

Fortune Brands Innovations Trading Up 1.8 %

Shares of NYSE:FBIN opened at $74.89 on Thursday. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $9.30 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 2.36 and a beta of 1.51. The firm has a fifty day moving average of $84.53 and a two-hundred day moving average of $76.45.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 period last year, the business earned $1.19 EPS. The business’s quarterly revenue was down 8.4% on a year-over-year basis. On average, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders 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 1.28%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

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.