Ron Wilson Sells 1,500 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this hyperlink.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $68.93 on Thursday. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The business has a 50 day moving average price of $71.73 and a two-hundred day moving average price of $77.97. The firm has a market cap of $8.56 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.50.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.25% and a net margin of 10.24%. Sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.53 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. Stockholders of record on Friday, February 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, February 21st. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio is 25.60%.

Analyst Upgrades and Downgrades

FBIN has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Evercore ISI reduced their target price on shares of 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. The Goldman Sachs Group decreased their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Truist Financial raised their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada lowered their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $86.64.

Hedge Funds Weigh In On Fortune Brands Innovations

Large investors have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new position in Fortune Brands Innovations in the third quarter worth $25,000. Flagship Wealth Advisors LLC bought a new position in shares of Fortune Brands Innovations in the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at about $55,000. IFP Advisors Inc boosted its holdings in shares of Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after buying an additional 275 shares during the period. Finally, Raleigh Capital Management Inc. grew its position in shares of Fortune Brands Innovations by 31.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after buying an additional 216 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Company 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.