Union Bancaire Privee UBP SA Buys New Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Union Bancaire Privee UBP SA bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the fourth quarter, HoldingsChannel reports. The fund bought 34,455 shares of the company’s stock, valued at approximately $2,385,000.

A number of other institutional investors have also added to or reduced their stakes in FBIN. Creative Planning increased its stake in Fortune Brands Innovations by 3.1% in the third quarter. Creative Planning now owns 23,706 shares of the company’s stock valued at $2,122,000 after acquiring an additional 714 shares during the last quarter. Blue Trust Inc. increased its stake in Fortune Brands Innovations by 35.4% in the third quarter. Blue Trust Inc. now owns 1,217 shares of the company’s stock valued at $109,000 after acquiring an additional 318 shares during the last quarter. Raymond James & Associates increased its stake in Fortune Brands Innovations by 28.0% in the third quarter. Raymond James & Associates now owns 50,216 shares of the company’s stock valued at $4,496,000 after acquiring an additional 10,998 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Fortune Brands Innovations by 179.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 16,903 shares of the company’s stock valued at $1,513,000 after acquiring an additional 10,865 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Fortune Brands Innovations by 10.0% in the third quarter. Signaturefd LLC now owns 2,092 shares of the company’s stock valued at $187,000 after acquiring an additional 191 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 1.7 %

NYSE:FBIN opened at $65.51 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month high of $90.54. The company has a market cap of $8.14 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 2.00 and a beta of 1.50. The company has a 50 day simple moving average of $70.29 and a two-hundred day simple moving average of $77.50.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 25.60%.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the transaction, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays reduced their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group reduced their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Truist Financial raised their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Evercore ISI reduced their price objective 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. Finally, Robert W. Baird dropped their target price on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.64.

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.