Legal Advantage Investments Inc. Sells 500 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Legal Advantage Investments Inc. lessened its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,500 shares of the company’s stock after selling 500 shares during the period. Legal Advantage Investments Inc.’s holdings in Fortune Brands Innovations were worth $786,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Handelsbanken Fonder AB grew its holdings in Fortune Brands Innovations by 50.2% during the third quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company’s stock valued at $3,053,000 after purchasing an additional 11,400 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Fortune Brands Innovations by 30.7% in the second quarter. Envestnet Asset Management Inc. now owns 36,582 shares of the company’s stock worth $2,376,000 after buying an additional 8,590 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Fortune Brands Innovations by 1.9% in the fourth quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after buying an additional 35,289 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Fortune Brands Innovations by 12,402.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock worth $21,921,000 after buying an additional 334,865 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Fortune Brands Innovations in the third quarter worth about $208,000. Institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FBIN. UBS Group decreased their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. BMO Capital Markets upped their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group upped their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group decreased their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Evercore ISI cut their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $89.36.

Fortune Brands Innovations Stock Up 0.3 %

Shares of NYSE FBIN opened at $74.76 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $9.29 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 2.21 and a beta of 1.49. The stock’s fifty day simple moving average is $73.65 and its two-hundred day simple moving average is $77.90. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. As a group, analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a $0.25 dividend. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

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.