Legal Advantage Investments Inc. Sells 500 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Legal Advantage Investments Inc. decreased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,500 shares of the company’s stock after selling 500 shares during the quarter. Legal Advantage Investments Inc.’s holdings in Fortune Brands Innovations were worth $786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its holdings in Fortune Brands Innovations by 50.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company’s stock worth $3,053,000 after purchasing an additional 11,400 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Fortune Brands Innovations by 30.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 36,582 shares of the company’s stock valued at $2,376,000 after acquiring an additional 8,590 shares in the last quarter. Nordea Investment Management AB increased its position 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 last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Fortune Brands Innovations by 12,402.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock valued at $21,921,000 after purchasing an additional 334,865 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Fortune Brands Innovations during the 3rd quarter valued at about $208,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Up 0.3 %

FBIN stock opened at $74.76 on Tuesday. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The business has a fifty day moving average price of $73.65 and a 200-day moving average price of $77.90. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The stock has a market capitalization of $9.29 billion, a P/E ratio of 21.06, a P/E/G ratio of 2.21 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. Fortune Brands Innovations’s revenue was down 8.4% compared to the same quarter last year. Equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a $0.25 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s payout ratio is presently 27.04%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. BMO Capital Markets raised their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Evercore ISI lowered 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 note on Thursday, November 7th. Jefferies Financial Group lifted their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group lowered their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, UBS Group lowered their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $89.36.

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.