Fox Run Management L.L.C. Invests $408,000 in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Fox Run Management L.L.C. invested $408,000 in Fortune Brands Innovations, acquiring 6,706 shares during the 1st quarter.
• Fortune Brands Innovations recently announced a quarterly dividend of $0.25 per share, representing an annualized yield of 1.7%.
• As of the latest reports, Fortune Brands Innovations has a market cap of $7.06 billion and a P/E ratio of 18.51.

Fox Run Management L.L.C. purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,706 shares of the company's stock, valued at approximately $408,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FBIN. Envestnet Asset Management Inc. grew its holdings in shares of Fortune Brands Innovations by 10.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 46,104 shares of the company's stock worth $3,150,000 after purchasing an additional 4,387 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Fortune Brands Innovations during the fourth quarter worth about $5,473,000. Barclays PLC grew its holdings in shares of Fortune Brands Innovations by 8.1% during the fourth quarter. Barclays PLC now owns 143,277 shares of the company's stock worth $9,789,000 after purchasing an additional 10,746 shares during the last quarter. Commerce Bank grew its holdings in shares of Fortune Brands Innovations by 1.2% during the fourth quarter. Commerce Bank now owns 27,974 shares of the company's stock worth $1,911,000 after purchasing an additional 328 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Fortune Brands Innovations by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,924,181 shares of the company's stock worth $131,481,000 after acquiring an additional 40,138 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $58.85 on Tuesday. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-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 business's 50 day moving average price is $54.04 and its two-hundred day moving average price is $56.63. The firm has a market cap of $7.06 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 4.03 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. The company's revenue was down 3.0% compared to the same quarter last year. On average, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio is presently 31.45%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Truist Financial set a $65.00 price objective on Fortune Brands Innovations in a research note on Wednesday, May 7th. Royal Bank Of Canada raised Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $59.00 to $65.00 in a research note on Friday, August 1st. Robert W. Baird cut their price objective on 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. Barclays lifted their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, UBS Group lifted their price objective on 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 given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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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