Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Acquired by Savant Capital LLC

Savant Capital LLC lifted its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,281 shares of the company’s stock after buying an additional 258 shares during the period. Savant Capital LLC’s holdings in Fortune Brands Innovations were worth $224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its holdings in Fortune Brands Innovations by 104.5% in the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after purchasing an additional 3,024,950 shares in the last quarter. Nordea Investment Management AB increased its holdings 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 valued at $132,335,000 after purchasing an additional 35,289 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Fortune Brands Innovations by 11.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock valued at $111,650,000 after buying an additional 130,170 shares during the last quarter. Ninety One UK Ltd increased its position in shares of Fortune Brands Innovations by 6.6% during the fourth quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company’s stock worth $82,398,000 after acquiring an additional 74,369 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Fortune Brands Innovations by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 853,111 shares of the company’s stock worth $76,379,000 after acquiring an additional 4,248 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction 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 transaction, the executive vice president now owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

FBIN has been the topic of several analyst reports. The Goldman Sachs Group dropped their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets upped their target price 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. 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 report on Thursday, November 7th. Barclays cut their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Finally, Royal Bank of Canada cut their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fortune Brands Innovations currently has an average rating of “Hold” and an average price target of $86.64.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $68.28 on Wednesday. Fortune Brands Innovations, Inc. has a twelve month low of $62.54 and a twelve month high of $90.54. 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 company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 2.01 and a beta of 1.50. The business has a 50 day simple moving average of $70.94 and a 200-day simple moving average of $77.65.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.25% and a net margin of 10.24%. As a group, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.53 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.25 per share. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is presently 25.60%.

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.