Ron Wilson Sells 1,500 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the sale, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $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 accessible through this hyperlink.

Fortune Brands Innovations Price Performance

Shares of FBIN traded up $0.79 during midday trading on Tuesday, reaching $69.34. The stock had a trading volume of 2,016,044 shares, compared to its average volume of 1,586,313. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The company has a market capitalization of $8.61 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.01 and a beta of 1.50. The firm’s 50 day moving average price is $72.12 and its 200-day moving average price is $78.10. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data 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 net margin of 10.24% and a return on equity of 22.25%. On average, analysts forecast that Fortune Brands Innovations, Inc. will post 4.53 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.44%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio is currently 25.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FBIN shares. BMO Capital Markets raised their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Evercore ISI dropped their price target on shares of 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. Barclays cut their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday. UBS Group lowered their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Truist Financial lifted their target price 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. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $86.64.

Institutional Investors Weigh In On Fortune Brands Innovations

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its stake in Fortune Brands Innovations by 812.5% during the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock valued at $2,292,000 after purchasing an additional 29,867 shares during the period. Trust Point Inc. acquired a new position in Fortune Brands Innovations during the fourth quarter valued at $319,000. Nordea Investment Management AB lifted its stake in Fortune Brands Innovations by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after acquiring an additional 35,289 shares in the last quarter. KBC Group NV boosted its position in Fortune Brands Innovations by 30.9% during the 4th quarter. KBC Group NV now owns 163,466 shares of the company’s stock worth $11,169,000 after acquiring an additional 38,546 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new position in Fortune Brands Innovations during the 3rd quarter valued at about $208,000. 87.60% of the stock is owned by institutional investors.

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.