Atria Wealth Solutions Inc. Purchases 234 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Atria Wealth Solutions Inc. lifted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,834 shares of the company’s stock after buying an additional 234 shares during the period. Atria Wealth Solutions Inc.’s holdings in Fortune Brands Innovations were worth $292,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FBIN. Tobam increased its holdings in Fortune Brands Innovations by 1,181.5% during the fourth quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after buying an additional 319 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at $27,000. Operose Advisors LLC purchased a new stake in shares of Fortune Brands Innovations in the 3rd quarter worth $31,000. Cullen Frost Bankers Inc. raised its holdings in Fortune Brands Innovations by 7,122.2% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 650 shares of the company’s stock worth $40,000 after purchasing an additional 641 shares during the period. Finally, Friedenthal Financial purchased a new position in Fortune Brands Innovations during the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Insider Buying and Selling

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $81.10, for a total transaction of $162,200.00. Following the completion of the transaction, the director now owns 2,435 shares in the company, valued at $197,478.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.99% of the stock is currently owned by company insiders.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN opened at $73.27 on Thursday. The company has a market cap of $9.16 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.02 and a beta of 1.58. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $84.92. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.08 and a current ratio of 2.04. The firm’s fifty day moving average is $78.55 and its two-hundred day moving average is $74.72.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Tuesday, April 30th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 earnings per share. As a group, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 24th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Thursday, May 23rd. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.36%.

Analysts Set New Price Targets

A number of brokerages have commented on FBIN. Barclays upped their price target on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Robert W. Baird raised their target price on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI dropped their price target on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research report on Wednesday, May 1st. Oppenheimer initiated coverage on shares of Fortune Brands Innovations in a research note on Friday, January 19th. They issued a “market perform” rating for the company. Finally, BMO Capital Markets restated a “market perform” rating and set a $82.00 target price (up previously from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and an average target price of $79.22.

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.