Huntington National Bank Lowers Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Huntington National Bank trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,822 shares of the company’s stock after selling 152 shares during the quarter. Huntington National Bank’s holdings in Fortune Brands Innovations were worth $790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FBIN. LRI Investments LLC bought a new position in shares of Fortune Brands Innovations during the 1st quarter worth approximately $34,000. Family Firm Inc. purchased a new position in Fortune Brands Innovations in the second quarter worth $31,000. Brown Brothers Harriman & Co. grew its stake in Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after purchasing an additional 437 shares during the period. Pathway Financial Advisers LLC purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at $51,000. Finally, Rothschild Investment LLC bought a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth $54,000. Institutional investors own 87.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore ISI reduced 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. The Goldman Sachs Group raised their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Robert W. Baird dropped their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Truist Financial increased their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, BMO Capital Markets boosted their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fortune Brands Innovations currently has an average rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Stock Down 1.4 %

FBIN stock opened at $73.96 on Friday. The stock has a 50-day simple moving average of $84.82 and a two-hundred day simple moving average of $76.38. The firm has a market capitalization of $9.19 billion, a PE ratio of 20.83, a PEG ratio of 2.41 and a beta of 1.51. Fortune Brands Innovations, Inc. has a twelve month low of $62.54 and a twelve month high of $90.54. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the firm posted $1.19 EPS. The firm’s revenue was down 8.4% compared to the same quarter last year. On average, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be paid 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 yield of 1.30%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 27.04%.

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.