IFP Advisors Inc Has $62,000 Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

IFP Advisors Inc lifted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 47.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 853 shares of the company’s stock after buying an additional 275 shares during the period. IFP Advisors Inc’s holdings in Fortune Brands Innovations were worth $62,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc raised its holdings in shares of Fortune Brands Innovations by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after acquiring an additional 121 shares in the last quarter. Smithfield Trust Co raised its holdings in shares of Fortune Brands Innovations by 4.6% during the third quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock worth $271,000 after acquiring an additional 133 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in shares of Fortune Brands Innovations by 1.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock worth $556,000 after acquiring an additional 138 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings 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 worth $222,000 after acquiring an additional 156 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Fortune Brands Innovations by 11.2% during the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after acquiring an additional 170 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Buying and Selling

In other news, EVP Kristin Papesh bought 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Robert W. Baird cut their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. UBS Group cut their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Truist Financial raised their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a 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 report on Friday, February 7th. Finally, 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 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, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus target price of $86.64.

Fortune Brands Innovations Trading Up 2.0 %

Fortune Brands Innovations stock opened at $62.43 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The business’s 50-day simple moving average is $69.24 and its 200-day simple moving average is $76.90. The firm has a market capitalization of $7.65 billion, a PE ratio of 16.65, a PEG ratio of 2.00 and a beta of 1.50. Fortune Brands Innovations, Inc. has a 52 week low of $60.81 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 EPS 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%. Equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.25 dividend. The ex-dividend date is Friday, February 21st. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.60%. Fortune Brands Innovations’s payout ratio is presently 26.67%.

About Fortune Brands Innovations

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.