Union Bancaire Privee UBP SA Buys New Holdings 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 its most recent disclosure with the Securities and Exchange Commission. The fund bought 34,455 shares of the company’s stock, valued at approximately $2,385,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atria Wealth Solutions Inc. increased its holdings in Fortune Brands Innovations by 5.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock worth $222,000 after purchasing an additional 156 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Fortune Brands Innovations by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock worth $260,000 after purchasing an additional 201 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Fortune Brands Innovations by 6.0% during the 4th quarter. Sanctuary Advisors LLC now owns 5,305 shares of the company’s stock worth $389,000 after purchasing an additional 302 shares in the last quarter. Catalyst Capital Advisors LLC increased its holdings in Fortune Brands Innovations by 8.3% during the 4th quarter. Catalyst Capital Advisors LLC now owns 6,500 shares of the company’s stock worth $444,000 after purchasing an additional 500 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in Fortune Brands Innovations by 27.8% during the 4th quarter. Principal Securities Inc. now owns 1,731 shares of the company’s stock worth $118,000 after purchasing an additional 377 shares in the last quarter. 87.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FBIN shares. 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 research note on Friday, February 7th. Royal Bank of Canada cut their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. 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 research note on Thursday, November 7th. Truist Financial boosted their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird cut their target price on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.64.

Insiders Place Their Bets

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the sale, the executive vice president now 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 legal filing with the SEC, which is available at this link. Company insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $65.51 on Monday. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month high of $90.54. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The business’s 50 day simple moving average is $70.29 and its 200 day simple moving average is $77.50. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 2.00 and a beta of 1.50.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS 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 dividend of $0.25 per share. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio is currently 25.60%.

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.