Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Purchases $29,941.17 in Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Kristin Papesh bought 483 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at $472,177.83. This represents a 6.77 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Fortune Brands Innovations Stock Up 1.0 %

FBIN stock opened at $63.83 on Friday. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 2.00 and a beta of 1.53. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 12 month low of $60.81 and a 12 month high of $90.54. The firm has a 50-day moving average of $69.10 and a two-hundred day moving average of $76.81.

Fortune Brands Innovations (NYSE:FBIN) last announced 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 return on equity of 22.05% and a net margin of 10.24%. As a group, analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business 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. The ex-dividend date is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 26.67%.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of hedge funds have recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its position in shares of Fortune Brands Innovations by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after purchasing an additional 121 shares during the period. Smithfield Trust Co boosted its position in Fortune Brands Innovations by 4.6% in the 3rd quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock valued at $271,000 after buying an additional 133 shares during the period. U.S. Capital Wealth Advisors LLC boosted its position in Fortune Brands Innovations by 1.7% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock valued at $556,000 after buying an additional 138 shares during the period. Atria Wealth Solutions Inc. boosted its position in Fortune Brands Innovations by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after buying an additional 156 shares during the period. Finally, UMB Bank n.a. boosted its position in Fortune Brands Innovations by 11.2% in the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after buying an additional 170 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FBIN. The Goldman Sachs Group reduced their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. UBS Group reduced 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. Barclays reduced their price target on 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 cut their target price on 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.