Fortune Brands Innovations, Inc. $FBIN Shares Newly Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 129,161 shares of the company’s stock, valued at approximately $4,915,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Fortune Brands Innovations during the second quarter worth approximately $1,062,255,000. Garden Investment Management L.P. acquired a new position in Fortune Brands Innovations in the 1st quarter valued at $137,471,000. Freestone Grove Partners LP acquired a new position in Fortune Brands Innovations in the 2nd quarter valued at $136,063,000. Atlas FRM LLC bought a new position in Fortune Brands Innovations during the 2nd quarter worth $100,192,500. Finally, Canada Pension Plan Investment Board bought a new position in Fortune Brands Innovations during the 2nd quarter worth $95,533,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FBIN has been the subject of a number of recent research reports. Barclays cut their price objective on shares of Fortune Brands Innovations from $47.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, November 4th. UBS Group boosted their target price on Fortune Brands Innovations from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $68.00 price target on shares of Fortune Brands Innovations in a research note on Wednesday, August 5th. Royal Bank Of Canada cut their target price on shares of Fortune Brands Innovations from $49.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 4th. Finally, BMO Capital Markets upped their price target on shares of Fortune Brands Innovations from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and an average price target of $51.80.

Fortune Brands Innovations Trading Down 3.2%

FBIN opened at $47.61 on Friday. The company has a fifty day moving average price of $41.74 and a two-hundred day moving average price of $44.76. Fortune Brands Innovations, Inc. has a 1-year low of $32.34 and a 1-year high of $64.84. The company has a current ratio of 1.83, a quick ratio of 0.89 and a debt-to-equity ratio of 1.00. The company has a market cap of $5.64 billion, a P/E ratio of 44.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.25.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.40. Fortune Brands Innovations had a return on equity of 17.74% and a net margin of 2.94%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts predict that Fortune Brands Innovations, Inc. will post 3.26 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 9th. Investors of record on Friday, November 20th will be given a $0.26 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $1.04 annualized dividend and a yield of 2.2%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 98.11%.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations, Inc. designs, manufactures and markets products for homes and security. Its offerings include faucets, sinks and other plumbing products; entry doors and storm doors; and locks and safes. The company’s portfolio includes brands such as Moen, House of Rohl, Therma-Tru, Larson, Master Lock and SentrySafe. It serves customers primarily in North America, as well as in international markets. Previously known as Fortune Brands Home & Security, the company adopted the Fortune Brands Innovations name in 2022.