Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC lowered its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 10.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,233 shares of the company’s stock after selling 273 shares during the period. Smartleaf Asset Management LLC’s holdings in Fortune Brands Innovations were worth $153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FBIN. Stephens Inc. AR acquired a new stake in Fortune Brands Innovations in the 3rd quarter valued at about $231,000. Janney Montgomery Scott LLC increased its holdings in shares of Fortune Brands Innovations by 10.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 10,343 shares of the company’s stock valued at $926,000 after acquiring an additional 1,001 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Fortune Brands Innovations by 0.5% in the 3rd quarter. Van ECK Associates Corp now owns 37,540 shares of the company’s stock valued at $3,254,000 after acquiring an additional 173 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at about $202,000. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at about $264,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Up 1.2 %

FBIN opened at $63.13 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The business has a 50 day simple moving average of $69.24 and a 200-day simple moving average of $76.90. The stock has a market capitalization of $7.74 billion, a P/E ratio of 16.83, a P/E/G ratio of 2.00 and a beta of 1.50. Fortune Brands Innovations, Inc. has a 12 month low of $60.81 and a 12 month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. On average, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 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 dividend of $0.25 per share. The ex-dividend date is Friday, February 21st. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.58%. Fortune Brands Innovations’s payout ratio is currently 26.67%.

Insider Buying and Selling

In other news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Robert W. Baird dropped their price target 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. UBS Group dropped their price target 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. Evercore ISI dropped their price target 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 raised their price target 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, Barclays lowered their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.64.

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.