Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Ron Wilson Sells 1,500 Shares

Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Ron Wilson sold 1,500 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the transaction, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Fortune Brands Innovations Trading Up 1.1 %

Shares of Fortune Brands Innovations stock opened at $69.34 on Wednesday. The business has a fifty day simple moving average of $71.94 and a 200-day simple moving average of $78.03. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 2.01 and a beta of 1.50. 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 issued its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.25%. On average, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.53 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.44%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 25.60%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FBIN. Truist Financial boosted their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays cut their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Robert W. Baird decreased their price target on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. BMO Capital Markets lifted 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 research note on Tuesday, October 22nd. Finally, Royal Bank of Canada reduced their price objective on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $86.64.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FBIN. FMR LLC boosted 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 acquiring an additional 3,024,950 shares in the last quarter. Amundi lifted its holdings in shares of Fortune Brands Innovations by 166.8% during the fourth quarter. Amundi now owns 2,306,864 shares of the company’s stock valued at $157,953,000 after purchasing an additional 1,442,195 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at $40,027,000. Arvest Bank Trust Division acquired a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at $17,621,000. Finally, Ceredex Value Advisors LLC purchased a new position in Fortune Brands Innovations in the 3rd quarter worth about $13,170,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

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.