Squarepoint Ops LLC Invests $536,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Squarepoint Ops LLC purchased a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,847 shares of the company's stock, valued at approximately $536,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FBIN. Janney Montgomery Scott LLC increased its holdings in shares of Fortune Brands Innovations by 3.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,663 shares of the company's stock valued at $729,000 after acquiring an additional 320 shares in the last quarter. Blue Trust Inc. increased its stake in Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock valued at $98,000 after purchasing an additional 219 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in Fortune Brands Innovations by 1.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company's stock worth $556,000 after buying an additional 138 shares during the last quarter. Trust Point Inc. acquired a new position in Fortune Brands Innovations during the fourth quarter worth $319,000. Finally, Ninety One UK Ltd lifted its stake in shares of Fortune Brands Innovations by 6.6% in the fourth quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company's stock valued at $82,398,000 after buying an additional 74,369 shares in the last quarter. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Stock Down 0.0%

Shares of FBIN traded down $0.01 during trading hours on Thursday, reaching $51.02. 1,722,170 shares of the stock traded hands, compared to its average volume of 1,575,235. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The stock has a fifty day simple moving average of $52.78 and a 200 day simple moving average of $64.01. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 2.00 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.66. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company posted $0.83 earnings per share. The firm's quarterly revenue was down 6.9% compared to the same quarter last year. On average, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.96%. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 29.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Robert W. Baird dropped their price objective 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. Royal Bank of Canada dropped their price objective on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 7th. Barclays dropped their price objective on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Truist Financial set a $65.00 price objective on shares of Fortune Brands Innovations in a research note on Wednesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of "Hold" and an average price target of $77.17.

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.