HB Wealth Management LLC Grows Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

HB Wealth Management LLC raised its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 26.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,973 shares of the company’s stock after acquiring an additional 822 shares during the quarter. HB Wealth Management LLC’s holdings in Fortune Brands Innovations were worth $271,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FBIN. Brooklyn Investment Group acquired a new position in shares of Fortune Brands Innovations during the third quarter worth $25,000. Quarry LP boosted its position in shares of Fortune Brands Innovations by 3,069.0% during the 2nd quarter. Quarry LP now owns 919 shares of the company’s stock worth $60,000 after acquiring an additional 890 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of Fortune Brands Innovations by 31.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after acquiring an additional 216 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Fortune Brands Innovations during the 3rd quarter worth about $81,000. Finally, Blue Trust Inc. lifted its stake in Fortune Brands Innovations by 35.4% during the third quarter. Blue Trust Inc. now owns 1,217 shares of the company’s stock worth $109,000 after purchasing an additional 318 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $72.51 on Friday. 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 company has a market cap of $9.01 billion, a PE ratio of 20.43, a P/E/G ratio of 2.17 and a beta of 1.49. The stock has a fifty day moving average price of $73.49 and a 200 day moving average price of $77.97. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54.

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

Fortune Brands Innovations Increases Dividend

The firm 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. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.38%. Fortune Brands Innovations’s payout ratio is presently 27.04%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FBIN shares. Jefferies Financial Group increased their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird cut their price target on shares of 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. The Goldman Sachs Group decreased their price objective on shares of 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. Truist Financial lifted their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, UBS Group decreased their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.