Thrivent Financial for Lutherans Sells 1,065 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Thrivent Financial for Lutherans decreased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,391 shares of the company’s stock after selling 1,065 shares during the period. Thrivent Financial for Lutherans’ holdings in Fortune Brands Innovations were worth $2,631,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. LRI Investments LLC bought a new position in Fortune Brands Innovations in the 1st quarter valued at approximately $34,000. Family Firm Inc. bought a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at $31,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after acquiring an additional 437 shares in the last quarter. Pathway Financial Advisers LLC bought a new stake in Fortune Brands Innovations during the 1st quarter worth $51,000. Finally, Rothschild Investment LLC acquired a new position in Fortune Brands Innovations in the 2nd quarter worth about $54,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 3.7 %

Shares of NYSE:FBIN opened at $77.98 on Wednesday. Fortune Brands Innovations, Inc. has a 1 year low of $62.54 and a 1 year high of $90.54. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The business’s 50-day moving average is $84.23 and its 200-day moving average is $76.55. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 2.45 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company earned $1.19 EPS. Fortune Brands Innovations’s quarterly revenue was down 8.4% compared to the same quarter last year. Equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

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

Analyst Ratings Changes

FBIN has been the topic of several research reports. Barclays boosted their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Evercore ISI decreased their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. UBS Group decreased their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Jefferies Financial Group lifted their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.