Oak Thistle LLC Acquires Shares of 8,927 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Oak Thistle LLC bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,927 shares of the company's stock, valued at approximately $543,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Fortune Brands Innovations by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company's stock valued at $821,840,000 after purchasing an additional 68,404 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Fortune Brands Innovations by 2.6% during the fourth quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company's stock valued at $303,792,000 after purchasing an additional 114,391 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Fortune Brands Innovations by 63.0% during the fourth quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company's stock valued at $196,153,000 after purchasing an additional 1,110,021 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Fortune Brands Innovations by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,924,181 shares of the company's stock valued at $131,481,000 after purchasing an additional 40,138 shares in the last quarter. Finally, Norges Bank purchased a new position in Fortune Brands Innovations during the fourth quarter valued at approximately $101,122,000. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock traded up $0.47 during mid-day trading on Monday, reaching $56.97. 332,775 shares of the company's stock traded hands, compared to its average volume of 2,000,758. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 3.35 and a beta of 1.36. The stock has a 50 day moving average of $52.23 and a two-hundred day moving average of $58.44. The company has a quick ratio of 0.72, a current ratio of 1.41 and a debt-to-equity ratio of 1.06. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.66. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.07 billion. Fortune Brands Innovations had a net margin of 9.42% and a return on equity of 20.96%. Fortune Brands Innovations's revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Friday, August 22nd. Fortune Brands Innovations's payout ratio is 29.33%.

Analyst Ratings Changes

FBIN has been the topic of several analyst reports. UBS Group lowered their price target on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Royal Bank Of Canada lowered their price target on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 7th. Barclays lifted their price target on shares of Fortune Brands Innovations from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Robert W. Baird lowered their target price on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $77.27.

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.