Motco Sells 500 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Motco cut its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 33.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,000 shares of the company’s stock after selling 500 shares during the period. Motco’s holdings in Fortune Brands Innovations were worth $68,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FBIN. Brooklyn Investment Group bought a new position in Fortune Brands Innovations in the 3rd quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new position in Fortune Brands Innovations in the 4th quarter worth $55,000. IFP Advisors Inc raised its holdings in Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after purchasing an additional 275 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Fortune Brands Innovations in the 3rd quarter worth $81,000. Finally, Blue Trust Inc. raised its holdings in Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after purchasing an additional 219 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $64.70 on Friday. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The company’s 50-day moving average is $69.69 and its 200 day moving average is $77.18. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 2.00 and a beta of 1.50. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.98 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 22.05%. Sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 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. Investors of record on Friday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.55%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is 26.67%.

Wall Street Analysts Forecast Growth

FBIN has been the subject of several research reports. The Goldman Sachs Group decreased their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Robert W. Baird reduced their target price on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Truist Financial upped their target price on shares of 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 reduced their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Finally, Royal Bank of Canada reduced their target price on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $86.64.

Insider Activity

In other news, EVP Ron Wilson sold 1,500 shares of the firm’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 sale, the executive vice president now owns 10,066 shares of the company’s stock, valued at $693,950.04. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.20% of the company’s stock.

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.