Union Bancaire Privee UBP SA Makes New $2.39 Million Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Union Bancaire Privee UBP SA bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,455 shares of the company’s stock, valued at approximately $2,385,000.

Several other hedge funds have also modified their holdings of FBIN. FMR LLC raised its stake in shares of Fortune Brands Innovations by 104.5% during the third 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. Nordea Investment Management AB grew its holdings in Fortune Brands Innovations by 1.9% during 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 increased its stake in Fortune Brands Innovations by 11.7% during 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 worth $111,650,000 after buying an additional 130,170 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Fortune Brands Innovations by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,111 shares of the company’s stock worth $76,379,000 after buying an additional 4,248 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Fortune Brands Innovations by 71.0% in the 2nd quarter. AQR Capital Management LLC now owns 415,255 shares of the company’s stock valued at $26,967,000 after buying an additional 172,435 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FBIN. UBS Group dropped their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. 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 decreased their price target on shares of 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. Jefferies Financial Group upped their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Robert W. Baird decreased their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $89.36.

Fortune Brands Innovations Trading Up 3.2 %

NYSE FBIN opened at $74.78 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The company has a 50-day simple moving average of $73.50 and a 200-day simple moving average of $78.20. The firm has a market capitalization of $9.29 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 2.17 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. Fortune Brands Innovations’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 earnings per share. On average, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current 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 given a $0.25 dividend. The ex-dividend date of this dividend 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 annualized dividend and a yield of 1.34%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 28.17%.

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.