Fortune Brands Innovations, Inc. $FBIN Shares Newly Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 129,161 shares of the company’s stock, valued at approximately $4,915,000. Jefferies Financial Group Inc. owned approximately 0.11% of Fortune Brands Innovations at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Fortune Brands Innovations during the second quarter valued at approximately $1,062,255,000. Dimensional Fund Advisors LP grew its stake in Fortune Brands Innovations by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,064,086 shares of the company’s stock valued at $158,362,000 after acquiring an additional 271,371 shares in the last quarter. Garden Investment Management L.P. acquired a new position in shares of Fortune Brands Innovations in the 1st quarter valued at about $137,471,000. Amundi increased its holdings in shares of Fortune Brands Innovations by 11.2% in the 1st quarter. Amundi now owns 2,487,343 shares of the company’s stock valued at $96,979,000 after purchasing an additional 249,696 shares during the period. Finally, Freestone Grove Partners LP purchased a new stake in shares of Fortune Brands Innovations in the second quarter worth approximately $136,063,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FBIN shares. Evercore set a $45.00 price target on shares of Fortune Brands Innovations in a report on Friday, September 25th. Truist Financial dropped their price target on shares of Fortune Brands Innovations from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. BMO Capital Markets boosted their price objective on Fortune Brands Innovations from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Zacks Research downgraded shares of Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a report on Tuesday. Finally, Barclays decreased their price target on shares of Fortune Brands Innovations from $47.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.80.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $47.61 on Friday. The stock’s fifty day simple moving average is $41.74 and its 200 day simple moving average is $44.76. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.83 and a quick ratio of 0.89. Fortune Brands Innovations, Inc. has a one year low of $32.34 and a one year high of $64.84. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 44.91, a P/E/G ratio of 1.51 and a beta of 1.25.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.40. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Fortune Brands Innovations had a net margin of 2.94% and a return on equity of 17.74%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. On average, analysts expect that Fortune Brands Innovations, Inc. will post 3.26 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Friday, November 20th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, November 20th. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 98.11%.

Fortune Brands Innovations Profile

Fortune Brands Innovations, Inc. designs, manufactures and markets products for homes and security. Its offerings include faucets, sinks and other plumbing products; entry doors and storm doors; and locks and safes. The company’s portfolio includes brands such as Moen, House of Rohl, Therma-Tru, Larson, Master Lock and SentrySafe. It serves customers primarily in North America, as well as in international markets. Previously known as Fortune Brands Home & Security, the company adopted the Fortune Brands Innovations name in 2022.