37,554 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 37,554 shares of the company’s stock, valued at approximately $3,362,000.

Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in Fortune Brands Innovations by 1,074.0% in the second quarter. Van ECK Associates Corp now owns 37,367 shares of the company’s stock valued at $2,426,000 after acquiring an additional 34,184 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Fortune Brands Innovations by 17.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock valued at $5,052,000 after purchasing an additional 8,836 shares during the last quarter. Qsemble Capital Management LP grew its holdings in shares of Fortune Brands Innovations by 1,091.8% during the 2nd quarter. Qsemble Capital Management LP now owns 28,459 shares of the company’s stock worth $1,848,000 after purchasing an additional 26,071 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth about $421,000. Finally, Teca Partners LP raised its holdings in Fortune Brands Innovations by 165.0% in the 2nd quarter. Teca Partners LP now owns 233,229 shares of the company’s stock valued at $15,146,000 after buying an additional 145,229 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 0.2 %

FBIN opened at $78.12 on Tuesday. The business has a fifty day moving average price of $83.58 and a 200 day moving average price of $76.65. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month high of $90.54. The stock has a market capitalization of $9.70 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 2.51 and a beta of 1.48.

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

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be issued 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 payout ratio is 27.04%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FBIN. Robert W. Baird lowered their target price on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Barclays increased their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. UBS Group cut their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Truist Financial raised their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.