Empowered Funds LLC Increases Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Empowered Funds LLC boosted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,574 shares of the company’s stock after acquiring an additional 350 shares during the period. Empowered Funds LLC’s holdings in Fortune Brands Innovations were worth $586,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FBIN. Klein Pavlis & Peasley Financial Inc. grew its holdings in Fortune Brands Innovations by 11.6% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 23,100 shares of the company’s stock valued at $1,578,000 after buying an additional 2,400 shares during the period. Bleakley Financial Group LLC boosted its position in shares of Fortune Brands Innovations by 2.5% in the fourth quarter. Bleakley Financial Group LLC now owns 17,354 shares of the company’s stock worth $1,186,000 after acquiring an additional 422 shares during the last quarter. Ninety One UK Ltd grew its holdings in Fortune Brands Innovations by 6.6% in the fourth quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company’s stock valued at $82,398,000 after purchasing an additional 74,369 shares during the period. Trust Point Inc. acquired a new position in Fortune Brands Innovations during the fourth quarter worth approximately $319,000. Finally, U.S. Capital Wealth Advisors LLC raised its stake in Fortune Brands Innovations by 1.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock worth $556,000 after purchasing an additional 138 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Truist Financial boosted their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays reduced their price objective 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 target price on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Royal Bank of Canada cut their price target 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $86.64.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the sale, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $68.28 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The stock’s 50 day moving average price is $70.94 and its 200 day moving average price is $77.65. The firm has a market capitalization of $8.48 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 2.01 and a beta of 1.50.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.25% and a net margin of 10.24%. As a group, sell-side analysts expect 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. Shareholders of record on Friday, February 21st will be given a $0.25 dividend. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is presently 25.60%.

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.