Lincoln National Corp Buys 786 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Lincoln National Corp boosted its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 22.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,259 shares of the company’s stock after acquiring an additional 786 shares during the period. Lincoln National Corp’s holdings in Fortune Brands Innovations were worth $324,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FBIN. American Century Companies Inc. boosted its holdings in shares of Fortune Brands Innovations by 1,439.7% during the 3rd quarter. American Century Companies Inc. now owns 665,475 shares of the company’s stock worth $41,366,000 after buying an additional 622,253 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Fortune Brands Innovations by 62.8% during the 4th quarter. Nordea Investment Management AB now owns 1,386,155 shares of the company’s stock worth $105,888,000 after buying an additional 534,901 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Fortune Brands Innovations by 110.8% during the 3rd quarter. Royal Bank of Canada now owns 779,237 shares of the company’s stock worth $48,438,000 after buying an additional 409,598 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Fortune Brands Innovations by 64.5% during the 3rd quarter. Invesco Ltd. now owns 892,752 shares of the company’s stock worth $55,493,000 after buying an additional 350,082 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Fortune Brands Innovations by 28.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,195,313 shares of the company’s stock worth $91,011,000 after buying an additional 262,922 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the sale, 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 at the SEC website. Corporate insiders own 0.99% of the company’s stock.

Fortune Brands Innovations Trading Down 1.6 %

Shares of Fortune Brands Innovations stock opened at $74.12 on Tuesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.04 and a quick ratio of 1.08. The firm has a market cap of $9.27 billion, a PE ratio of 22.67, a P/E/G ratio of 2.07 and a beta of 1.58. Fortune Brands Innovations, Inc. has a 1 year low of $54.10 and a 1 year high of $84.92. The stock has a fifty day moving average price of $78.12 and a 200-day moving average price of $75.24.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the business posted $0.69 EPS. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.31 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.30%. Fortune Brands Innovations’s dividend payout ratio is presently 29.36%.

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.