Blue Trust Inc. Grows Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Blue Trust Inc. increased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 18.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,436 shares of the company’s stock after purchasing an additional 219 shares during the quarter. Blue Trust Inc.’s holdings in Fortune Brands Innovations were worth $98,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of 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 during the period. Arvest Bank Trust Division purchased a new stake in Fortune Brands Innovations in the third quarter valued at approximately $17,621,000. Ceredex Value Advisors LLC purchased a new stake in Fortune Brands Innovations in the third quarter valued at approximately $13,170,000. Prospector Partners LLC acquired a new stake in shares of Fortune Brands Innovations in the third quarter valued at approximately $11,953,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Fortune Brands Innovations by 11.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock worth $111,650,000 after acquiring an additional 130,170 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FBIN has been the subject of several research reports. Royal Bank of Canada reduced their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday. Barclays reduced their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday. UBS Group lowered their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday. Evercore ISI reduced their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Finally, Truist Financial increased their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $86.64.

Fortune Brands Innovations Stock Down 1.2 %

FBIN opened at $68.20 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month high of $90.54. The stock has a market capitalization of $8.47 billion, a P/E ratio of 19.21, a P/E/G ratio of 2.09 and a beta of 1.50. The business has a 50 day simple moving average of $72.32 and a 200-day simple moving average of $78.01.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. On average, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 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 $0.25 dividend. The ex-dividend date is Friday, February 21st. This is a boost 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 1.47%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

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.