Y Intercept Hong Kong Ltd Takes $1.07 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Y Intercept Hong Kong Ltd acquired a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,593 shares of the company’s stock, valued at approximately $1,065,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC lifted its position 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 worth $530,040,000 after acquiring an additional 3,024,950 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 purchasing an additional 130,170 shares in the last quarter. Ninety One UK Ltd lifted its holdings in Fortune Brands Innovations by 6.6% during the 4th quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company’s stock worth $82,398,000 after purchasing an additional 74,369 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 4,248 shares during the period. 87.60% of the stock is owned by institutional investors.

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 dated Monday, February 10th. The shares were 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 directly 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 SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Stock Down 0.8 %

Shares of NYSE:FBIN opened at $65.77 on Thursday. The firm has a market capitalization of $8.17 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 2.00 and a beta of 1.50. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. Fortune Brands Innovations, Inc. has a 52-week low of $62.54 and a 52-week high of $90.54. The firm has a fifty day moving average of $69.86 and a 200 day moving average of $77.32.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share (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%. As a group, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a dividend of $0.25 per share. 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 1.52%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 26.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group decreased their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Barclays decreased their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group lowered their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. 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, February 7th. Finally, Evercore ISI lowered their price objective 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. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $86.64.

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.