Insider Selling: Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Sells 1,500 Shares of Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the sale, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Fortune Brands Innovations Stock Down 0.7 %

Shares of FBIN stock opened at $68.40 on Friday. 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, Inc. has a twelve month low of $62.54 and a twelve month high of $90.54. The stock has a 50 day moving average of $71.53 and a 200 day moving average of $77.90. The stock has a market cap 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 (NYSE:FBIN) last issued 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 22.25%. As a group, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.53 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.25 dividend. 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 dividend on an annualized basis and a dividend yield of 1.46%. Fortune Brands Innovations’s payout ratio is currently 26.67%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FBIN shares. UBS Group lowered their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. BMO Capital Markets raised their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Barclays lowered their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Evercore ISI lowered their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Finally, Robert W. Baird reduced their price objective 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. Six 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, Fortune Brands Innovations currently has an average rating of “Hold” and a consensus price target of $86.64.

Institutional Trading of Fortune Brands Innovations

A number of institutional investors have recently made changes to their positions in the company. Farringdon Capital Ltd. acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter worth approximately $417,000. Marshall Wace LLP boosted its stake in shares of Fortune Brands Innovations by 33.6% in the fourth quarter. Marshall Wace LLP now owns 591,876 shares of the company’s stock worth $40,443,000 after acquiring an additional 148,946 shares during the last quarter. Ceredex Value Advisors LLC boosted its stake in shares of Fortune Brands Innovations by 27.0% in the fourth quarter. Ceredex Value Advisors LLC now owns 186,750 shares of the company’s stock worth $12,761,000 after acquiring an additional 39,650 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter worth approximately $1,943,000. Finally, Barclays PLC boosted its stake in shares of Fortune Brands Innovations by 8.1% in the fourth quarter. Barclays PLC now owns 143,277 shares of the company’s stock worth $9,789,000 after acquiring an additional 10,746 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

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.