Trust Point Inc. Takes Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Trust Point Inc. bought a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,666 shares of the company's stock, valued at approximately $319,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FBIN. Brooklyn Investment Group purchased a new stake in Fortune Brands Innovations during the 3rd quarter valued at $25,000. Raleigh Capital Management Inc. raised its stake in 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 purchasing an additional 216 shares during the period. Darwin Wealth Management LLC purchased a new stake in Fortune Brands Innovations in the 3rd quarter worth $81,000. Blue Trust Inc. lifted its position in Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock valued at $98,000 after purchasing an additional 219 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Fortune Brands Innovations by 11.2% during the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company's stock worth $115,000 after buying an additional 170 shares during the period. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Trading Down 1.2 %

FBIN traded down $0.86 on Friday, reaching $68.20. 3,850,555 shares of the company's stock were exchanged, compared to its average volume of 1,361,096. The company has a market cap of $8.47 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.01 and a beta of 1.50. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. Fortune Brands Innovations, Inc. has a twelve month low of $62.54 and a twelve month high of $90.54. The company's 50 day moving average is $72.32 and its 200-day moving average is $78.06.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings data 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 22.25%. Equities analysts predict that Fortune Brands Innovations, Inc. will post 4.53 earnings per share 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. Stockholders of record on Friday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.47%. This is a positive change from Fortune Brands Innovations's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations's payout ratio is presently 25.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FBIN shares. UBS Group lowered their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a report on Friday. The Goldman Sachs Group cut their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets upped their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a "market perform" rating in a research report on Tuesday, October 22nd. Barclays decreased their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating for the company in a report on Friday. Finally, Robert W. Baird reduced their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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.