4,666 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Purchased by Trust Point Inc.

Trust Point Inc. purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 4,666 shares of the company’s stock, valued at approximately $319,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its stake in shares of Fortune Brands Innovations by 104.5% during the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after purchasing an additional 3,024,950 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Fortune Brands Innovations by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after purchasing an additional 35,289 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Fortune Brands Innovations by 11.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock worth $111,650,000 after purchasing an additional 130,170 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Fortune Brands Innovations by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,111 shares of the company’s stock worth $76,379,000 after purchasing an additional 4,248 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Fortune Brands Innovations by 5.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 381,827 shares of the company’s stock worth $34,185,000 after purchasing an additional 21,362 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN opened at $69.29 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $8.61 billion, a PE ratio of 19.52, a PEG ratio of 2.09 and a beta of 1.50. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The business’s 50 day moving average is $72.70 and its 200-day moving average is $78.10.

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

Fortune Brands Innovations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a $0.25 dividend. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.44%. Fortune Brands Innovations’s payout ratio is presently 27.04%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Truist Financial raised their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI cut their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. The Goldman Sachs Group cut their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets raised their price objective 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. Finally, Barclays cut their price objective on Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Six equities 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 company presently has an average rating of “Hold” and a consensus price target of $89.36.

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.