Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 381,827 shares of the company’s stock after buying an additional 21,362 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.31% of Fortune Brands Innovations worth $34,185,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc increased its holdings in Fortune Brands Innovations by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after buying an additional 121 shares during the last quarter. Smithfield Trust Co increased its holdings in Fortune Brands Innovations by 4.6% during the 3rd quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock worth $271,000 after acquiring an additional 133 shares during the period. Wedmont Private Capital boosted its holdings in Fortune Brands Innovations by 2.9% in the 3rd quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock valued at $502,000 after purchasing an additional 164 shares during the period. Summit Trail Advisors LLC grew its position in shares of Fortune Brands Innovations by 2.4% during the 2nd quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock valued at $474,000 after purchasing an additional 169 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Fortune Brands Innovations by 8.3% in the third quarter. CWM LLC now owns 2,199 shares of the company’s stock worth $197,000 after purchasing an additional 169 shares during the period. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 0.0 %

Shares of FBIN opened at $77.97 on Friday. The stock has a market capitalization of $9.69 billion, a P/E ratio of 21.96, a PEG ratio of 2.59 and a beta of 1.51. Fortune Brands Innovations, Inc. has a twelve month low of $62.54 and a twelve month high of $90.54. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. The firm has a fifty day simple moving average of $83.95 and a two-hundred day simple moving average of $76.58.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business posted $1.19 earnings per share. Fortune Brands Innovations’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.23%. Fortune Brands Innovations’s dividend payout ratio is currently 27.04%.

Analyst Ratings Changes

FBIN has been the topic of several recent analyst reports. Evercore ISI lowered their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. The Goldman Sachs Group raised their target price on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. UBS Group decreased their price target on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group lifted their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Truist Financial increased their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and an average target price of $91.36.

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.