Wells Fargo & Company MN Has $41.04 Million Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Wells Fargo & Company MN raised its position in Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 0.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 539,006 shares of the company’s stock after acquiring an additional 1,988 shares during the period. Wells Fargo & Company MN owned approximately 0.43% of Fortune Brands Innovations worth $41,040,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in FBIN. Tobam grew its stake in Fortune Brands Innovations by 1,181.5% in the fourth quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after acquiring an additional 319 shares during the period. Sound Income Strategies LLC purchased a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $27,000. Principal Securities Inc. purchased a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $29,000. Operose Advisors LLC purchased a new position in shares of Fortune Brands Innovations during the third quarter valued at approximately $31,000. Finally, First United Bank & Trust purchased a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FBIN. Robert W. Baird lifted their target price on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. BMO Capital Markets reaffirmed 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 report on Wednesday, January 31st. Evercore ISI dropped their price target on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, May 1st. Finally, Barclays boosted their price objective 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. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Fortune Brands Innovations currently has an average rating of “Hold” and a consensus price target of $79.22.

Get Our Latest Stock Report on FBIN

Fortune Brands Innovations Stock Up 0.3 %

Shares of NYSE FBIN opened at $70.23 on Monday. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $84.92. 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 business’s fifty day moving average price is $76.57 and its 200-day moving average price is $76.09. The stock has a market capitalization of $8.78 billion, a PE ratio of 21.48, a P/E/G ratio of 1.93 and a beta of 1.58.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 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 firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.31 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.37%. Fortune Brands Innovations’s dividend payout ratio is presently 29.36%.

Insider Activity

In other news, Director Ronald V. Waters sold 2,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the transaction, the director now owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

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