2,840 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Purchased by Advisory Services Network LLC

Advisory Services Network LLC purchased a new position in Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,840 shares of the company’s stock, valued at approximately $216,000.

Other institutional investors also recently bought and sold shares of the company. Choreo LLC bought a new position in Fortune Brands Innovations in the fourth quarter worth about $422,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Fortune Brands Innovations by 24.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,137 shares of the company’s stock worth $4,607,000 after purchasing an additional 12,217 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in Fortune Brands Innovations by 383.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 39,596 shares of the company’s stock worth $3,015,000 after purchasing an additional 31,406 shares during the period. Arvest Investments Inc. purchased a new stake in Fortune Brands Innovations in the fourth quarter worth about $1,561,000. Finally, Louisiana State Employees Retirement System purchased a new stake in Fortune Brands Innovations in the fourth quarter worth about $2,695,000. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Stock Up 0.9 %

FBIN opened at $67.21 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.08 and a debt-to-equity ratio of 1.33. Fortune Brands Innovations, Inc. has a 1-year low of $54.10 and a 1-year high of $84.92. The company has a market capitalization of $8.41 billion, a PE ratio of 20.55, a PEG ratio of 1.90 and a beta of 1.57. The firm’s 50 day simple moving average is $74.45 and its two-hundred day simple moving average is $76.28.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.69 earnings per share. As a group, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.31 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.43%. Fortune Brands Innovations’s payout ratio is 29.36%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FBIN. Robert W. Baird increased their price target on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Evercore ISI cut their price target on shares of 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. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to 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 Fortune Brands Innovations

Insider Activity

In other news, Director Ronald V. Waters sold 2,000 shares of the firm’s 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 sale, the director now directly owns 2,435 shares in the company, valued at approximately $197,478.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.99% of the company’s stock.

Fortune Brands Innovations 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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