Fortune Brands Innovations, Inc. (NYSE:FBIN) Stake Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 853,111 shares of the company’s stock after acquiring an additional 4,248 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Fortune Brands Innovations were worth $76,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Comerica Bank lifted its stake in Fortune Brands Innovations by 1.2% in the first quarter. Comerica Bank now owns 66,543 shares of the company’s stock valued at $5,634,000 after buying an additional 784 shares during the last quarter. LRI Investments LLC bought a new position in Fortune Brands Innovations in the 1st quarter worth about $34,000. Swedbank AB acquired a new stake in shares of Fortune Brands Innovations in the first quarter valued at approximately $4,884,000. PGGM Investments raised its holdings in shares of Fortune Brands Innovations by 412.6% during the first quarter. PGGM Investments now owns 43,628 shares of the company’s stock valued at $3,694,000 after buying an additional 35,117 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Fortune Brands Innovations during the first quarter worth approximately $51,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN opened at $77.97 on Thursday. The company has a market capitalization of $9.69 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 2.59 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The stock has a fifty day moving average of $84.08 and a 200-day moving average of $76.57. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54.

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

Fortune Brands Innovations Dividend Announcement

The company also recently announced 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. This represents a $0.96 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 27.04%.

Analyst Upgrades and Downgrades

FBIN has been the topic of several analyst reports. The Goldman Sachs Group raised their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays increased their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Jefferies Financial Group boosted their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets increased their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI dropped their target price 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. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $91.36.

Fortune Brands Innovations 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.