Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Acquired by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its stake in Fortune Brands Innovations by 20.9%, holding 55,965 shares worth approximately $3.4 million, according to their latest SEC filing.
• Fortune Brands Innovations recently declared a quarterly dividend of $0.25 per share, offering a 1.8% dividend yield with a payout ratio of 31.45%.
• Equities analysts have set an average price target of $75.91 for Fortune Brands Innovations, with a mix of buy and hold ratings from various analysts.

Natixis Advisors LLC lifted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,965 shares of the company's stock after purchasing an additional 9,676 shares during the period. Natixis Advisors LLC's holdings in Fortune Brands Innovations were worth $3,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in shares of Fortune Brands Innovations in the 1st quarter valued at about $26,000. CX Institutional acquired a new stake in Fortune Brands Innovations in the first quarter valued at approximately $29,000. Alpine Bank Wealth Management purchased a new stake in shares of Fortune Brands Innovations in the first quarter valued at approximately $62,000. Raleigh Capital Management Inc. raised its position in Fortune Brands Innovations by 28.2% during the first quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock worth $62,000 after acquiring an additional 224 shares during the period. Finally, Siemens Fonds Invest GmbH acquired a new position in shares of Fortune Brands Innovations during the 4th quarter worth about $76,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $56.57 on Thursday. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.54. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 1.97. The company has a 50 day moving average price of $52.93 and a 200 day moving average price of $57.71. The stock has a market capitalization of $6.79 billion, a P/E ratio of 17.79, a PEG ratio of 3.51 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%. The company's quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the business posted $1.16 earnings per share. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio is currently 31.45%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FBIN shares. Robert W. Baird decreased their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Loop Capital reiterated a "hold" rating and set a $61.00 price objective (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday. Barclays lifted their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $59.00 to $65.00 in a report on Friday, August 1st. Finally, UBS Group lifted their target price on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $75.91.

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.

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