Concurrent Investment Advisors LLC Buys Shares of 2,950 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Concurrent Investment Advisors LLC purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,950 shares of the company’s stock, valued at approximately $264,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Family Firm Inc. bought a new position in Fortune Brands Innovations in the second quarter valued at approximately $31,000. LRI Investments LLC bought a new stake in Fortune Brands Innovations in the 1st quarter valued at $34,000. Brown Brothers Harriman & Co. boosted its stake in Fortune Brands Innovations by 526.5% in 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 bought a new position in Fortune Brands Innovations during the 1st quarter worth about $51,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Fortune Brands Innovations in the 2nd quarter valued at about $54,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Jefferies Financial Group increased their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada raised their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Truist Financial boosted their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays raised their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets boosted their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Stock Down 0.9 %

Shares of FBIN stock opened at $78.36 on Tuesday. Fortune Brands Innovations, Inc. has a 52-week low of $59.72 and a 52-week high of $90.54. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.71 and a current ratio of 1.32. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 2.55 and a beta of 1.51. The firm’s 50-day moving average is $84.97 and its 200-day moving average is $76.39.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.24 billion. During the same period last year, the firm posted $1.19 earnings per share. The business’s revenue was down 8.4% on a year-over-year basis. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.18 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is presently 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.