Asset Planning Inc Makes New $100,000 Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Asset Planning Inc acquired a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,466 shares of the company’s stock, valued at approximately $100,000.

Several other large investors have also recently added to or reduced their stakes in FBIN. Brooklyn Investment Group bought a new stake in Fortune Brands Innovations during the third quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $55,000. Raleigh Capital Management Inc. grew its stake in shares of Fortune Brands Innovations by 31.7% during the third quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after purchasing an additional 216 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Fortune Brands Innovations during the third quarter valued at approximately $81,000. Finally, Blue Trust Inc. grew its stake in shares of Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after purchasing an additional 219 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the transaction, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on FBIN shares. BMO Capital Markets increased 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 report on Tuesday, October 22nd. Evercore ISI cut their price objective on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Truist Financial increased their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada cut their price objective on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Finally, UBS Group cut their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and an average target price of $86.64.

Fortune Brands Innovations Trading Down 0.7 %

FBIN opened at $68.40 on Friday. The stock has a market capitalization of $8.50 billion, a P/E ratio of 18.24, a P/E/G ratio of 2.01 and a beta of 1.50. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month high of $90.54. The firm’s fifty day simple moving average is $71.53 and its 200 day simple moving average is $77.90. The company has a current ratio of 1.32, a quick ratio of 0.69 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 (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.25%. As a group, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.53 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, February 21st. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.46%. Fortune Brands Innovations’s payout ratio is currently 26.67%.

About Fortune Brands Innovations

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.