Fortune Brands Innovations, Inc. (NYSE:FBIN) Stock Holdings Lifted by Cetera Investment Advisers

Cetera Investment Advisers grew its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,358 shares of the company’s stock after purchasing an additional 777 shares during the period. Cetera Investment Advisers’ holdings in Fortune Brands Innovations were worth $639,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Flagship Wealth Advisors LLC bought a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Fortune Brands Innovations in the fourth quarter valued at approximately $55,000. IFP Advisors Inc lifted its stake in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after acquiring an additional 275 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Fortune Brands Innovations in the fourth quarter worth approximately $82,000. Finally, Blue Trust Inc. grew its position in Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after acquiring an additional 219 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Kristin Papesh acquired 483 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This represents a 6.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FBIN. Robert W. Baird cut their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. UBS Group lowered their target price on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Truist Financial set a $65.00 target price on Fortune Brands Innovations in a report on Wednesday, May 7th. Barclays reduced their price target on Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They set a “hold” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $77.17.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN opened at $50.25 on Monday. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.00 and a beta of 1.49. The business has a 50 day moving average price of $54.73 and a 200 day moving average price of $65.28. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. Research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Tuesday, May 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.33%.

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.