Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 361,956 shares of the company’s stock after purchasing an additional 9,237 shares during the period. Rhumbline Advisers’ holdings in Fortune Brands Innovations were worth $24,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Fortune Brands Innovations in the third quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Fortune Brands Innovations during the fourth quarter worth about $55,000. Raleigh Capital Management Inc. boosted 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 worth $80,000 after buying an additional 216 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Fortune Brands Innovations during the third quarter worth about $81,000. Finally, Blue Trust Inc. boosted 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 worth $98,000 after buying an additional 219 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the transaction, the executive vice president now directly 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.99% of the company’s stock.

Wall Street Analyst Weigh In

FBIN has been the subject of several recent research reports. Barclays decreased their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Royal Bank of Canada decreased their target price on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Truist Financial increased 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 note on Thursday, November 7th. Robert W. Baird decreased their target price on shares of 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. Finally, UBS Group cut their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $86.64.

Fortune Brands Innovations Trading Down 2.1 %

Shares of Fortune Brands Innovations stock opened at $66.95 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average of $70.72 and a two-hundred day moving average of $77.57. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54. The stock has a market cap of $8.32 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 2.06 and a beta of 1.50.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data 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 return on equity of 22.05% and a net margin of 10.24%. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.25 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.49%. 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 25.60%.

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.