Gateway Investment Advisers LLC Has $2.08 Million Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Gateway Investment Advisers LLC lifted its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 45.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,208 shares of the company's stock after purchasing an additional 7,292 shares during the period. Gateway Investment Advisers LLC's holdings in Fortune Brands Innovations were worth $2,078,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of FBIN. Family Firm Inc. acquired a new position in shares of Fortune Brands Innovations during the 2nd quarter valued at $31,000. LRI Investments LLC bought a new position in shares of Fortune Brands Innovations during the 1st quarter worth about $34,000. Brown Brothers Harriman & Co. boosted its position 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 worth $34,000 after purchasing an additional 437 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at about $38,000. Finally, Optimum Investment Advisors bought a new stake in Fortune Brands Innovations in the 1st quarter valued at about $42,000. Institutional investors own 87.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a "sector perform" rating in a research report on Friday, July 26th. The Goldman Sachs Group upped their price objective on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Jefferies Financial Group lifted their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Loop Capital lowered 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, July 12th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Fortune Brands Innovations presently has an average rating of "Hold" and an average price target of $88.10.

View Our Latest Stock Report on Fortune Brands Innovations

Fortune Brands Innovations Trading Up 0.8 %

Shares of FBIN stock opened at $87.98 on Friday. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $90.54. The company has a 50-day simple moving average of $81.31 and a two-hundred day simple moving average of $75.36. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The company has a market capitalization of $11.00 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.79 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. Fortune Brands Innovations's quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 earnings per share. Research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations's payout ratio is 29.36%.

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.

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