4,602 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,602 shares of the company’s stock, valued at approximately $390,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FBIN. Tobam increased its position in shares of Fortune Brands Innovations by 1,181.5% during the fourth quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after acquiring an additional 319 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $27,000. Principal Securities Inc. bought a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $29,000. First United Bank & Trust bought a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $38,000. Finally, Rise Advisors LLC bought a new stake in shares of Fortune Brands Innovations during the first quarter valued at approximately $38,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

NYSE FBIN traded up $3.46 on Tuesday, reaching $73.46. The company had a trading volume of 261,795 shares, compared to its average volume of 1,168,009. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $9.19 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 1.95 and a beta of 1.52. The firm’s 50 day moving average price is $68.42 and its 200 day moving average price is $74.97. Fortune Brands Innovations, Inc. has a 12 month low of $54.10 and a 12 month high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.69 EPS. Fortune Brands Innovations’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were issued a $0.24 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.31%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.36%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of Fortune Brands Innovations from $88.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Loop Capital dropped their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Friday. Barclays dropped their target price on shares of Fortune Brands Innovations from $90.00 to $84.00 and set an “overweight” rating on the stock in a report on Friday. Robert W. Baird lifted their price target on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Evercore ISI dropped their price target on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, May 1st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $78.89.

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.