Impax Asset Management Group plc Buys 4,380 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Impax Asset Management Group plc raised its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 32.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,780 shares of the company’s stock after purchasing an additional 4,380 shares during the period. Impax Asset Management Group plc’s holdings in Fortune Brands Innovations were worth $1,215,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. FMR LLC raised its position in Fortune Brands Innovations by 104.5% during the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after purchasing an additional 3,024,950 shares during the last quarter. Nordea Investment Management AB raised its position in Fortune Brands Innovations by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after purchasing an additional 35,289 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Fortune Brands Innovations by 11.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock worth $111,650,000 after acquiring an additional 130,170 shares during the period. Ninety One UK Ltd grew its holdings in Fortune Brands Innovations by 6.6% during the 4th quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company’s stock worth $82,398,000 after acquiring an additional 74,369 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Fortune Brands Innovations by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,111 shares of the company’s stock worth $76,379,000 after acquiring an additional 4,248 shares during the period. 87.60% of the stock is owned by institutional investors.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction dated Monday, February 10th. The stock was 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 owns 10,066 shares in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $66.36 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The stock has a 50-day moving average of $69.94 and a 200-day moving average of $77.40. The company has a market cap of $8.24 billion, a PE ratio of 17.70, a P/E/G ratio of 2.00 and a beta of 1.50. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. On average, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 1.51%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s payout ratio is 25.60%.

Wall Street Analyst Weigh In

FBIN has been the subject of a number of recent analyst reports. Barclays decreased 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. Truist Financial increased their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. UBS Group decreased 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. Royal Bank of Canada decreased their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Finally, Evercore ISI decreased 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. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $86.64.

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.