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 increased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 20.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,965 shares of the company's stock after acquiring an additional 9,676 shares during the quarter. Natixis Advisors LLC's holdings in Fortune Brands Innovations were worth $3,408,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FBIN. von Borstel & Associates Inc. purchased a new position in Fortune Brands Innovations during the first quarter worth about $26,000. CX Institutional purchased a new position in Fortune Brands Innovations during the first quarter worth about $29,000. Raleigh Capital Management Inc. raised its stake 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 purchasing an additional 224 shares during the period. Alpine Bank Wealth Management purchased a new position in Fortune Brands Innovations during the first quarter worth about $62,000. Finally, Siemens Fonds Invest GmbH purchased a new position in Fortune Brands Innovations during the fourth quarter worth about $76,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Down 1.1%

FBIN traded down $0.65 during trading hours on Friday, hitting $56.00. 3,997,424 shares of the company's stock were exchanged, compared to its average volume of 1,799,047. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month high of $90.54. The firm has a 50 day moving average of $53.15 and a 200 day moving average of $57.35. The firm has a market cap of $6.72 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 3.85 and a beta of 1.32. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm earned $1.16 EPS. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. Analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Robert W. Baird reduced 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 research note on Wednesday, May 7th. Wall Street Zen raised shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. UBS Group boosted their price target on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $59.00 to $65.00 in a research note on Friday, August 1st. Finally, Truist Financial set a $65.00 price target on shares of Fortune Brands Innovations in a research note on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $75.91.

Fortune Brands Innovations Company 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.