Private Advisor Group LLC Reduces Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Private Advisor Group LLC lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,498 shares of the company’s stock after selling 369 shares during the period. Private Advisor Group LLC’s holdings in Fortune Brands Innovations were worth $512,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Atria Wealth Solutions Inc. boosted its position in shares of Fortune Brands Innovations by 5.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after buying an additional 156 shares during the period. CIBC Asset Management Inc boosted its position in shares of Fortune Brands Innovations by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock valued at $260,000 after buying an additional 201 shares during the period. Sanctuary Advisors LLC boosted its position in shares of Fortune Brands Innovations by 6.0% during the fourth quarter. Sanctuary Advisors LLC now owns 5,305 shares of the company’s stock valued at $389,000 after buying an additional 302 shares during the period. Catalyst Capital Advisors LLC boosted its position in shares of Fortune Brands Innovations by 8.3% during the fourth quarter. Catalyst Capital Advisors LLC now owns 6,500 shares of the company’s stock valued at $444,000 after buying an additional 500 shares during the period. Finally, Principal Securities Inc. boosted its position in shares of Fortune Brands Innovations by 27.8% during the fourth quarter. Principal Securities Inc. now owns 1,731 shares of the company’s stock valued at $118,000 after buying an additional 377 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Insiders Place Their Bets

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by company insiders.

Fortune Brands Innovations Stock Down 2.4 %

Fortune Brands Innovations stock opened at $63.15 on Tuesday. The business has a fifty day moving average of $69.56 and a two-hundred day moving average of $77.12. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The firm has a market cap of $7.74 billion, a P/E ratio of 16.84, a P/E/G ratio of 2.00 and a beta of 1.50. Fortune Brands Innovations, Inc. has a twelve month low of $62.54 and a twelve month high of $90.54.

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

Fortune Brands Innovations Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio is currently 26.67%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FBIN. Evercore ISI dropped their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. The Goldman Sachs Group dropped their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. UBS Group dropped their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Robert W. Baird dropped their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Barclays dropped 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. Six investment 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 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.