Allspring Global Investments Holdings LLC raised its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 75.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,635 shares of the company's stock after purchasing an additional 12,732 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Fortune Brands Innovations were worth $2,003,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Trust Point Inc. acquired a new stake in shares of Fortune Brands Innovations during the fourth quarter worth $319,000. SG Americas Securities LLC lifted its holdings in shares of Fortune Brands Innovations by 812.5% during the fourth quarter. SG Americas Securities LLC now owns 33,543 shares of the company's stock worth $2,292,000 after buying an additional 29,867 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Fortune Brands Innovations by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company's stock worth $132,335,000 after buying an additional 35,289 shares in the last quarter. KBC Group NV lifted its holdings in shares of Fortune Brands Innovations by 30.9% during the fourth quarter. KBC Group NV now owns 163,466 shares of the company's stock worth $11,169,000 after buying an additional 38,546 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Fortune Brands Innovations during the third quarter worth $208,000. Institutional investors and hedge funds own 87.60% of the company's stock.
Fortune Brands Innovations Price Performance
FBIN opened at $65.51 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The stock's 50 day moving average price is $70.29 and its 200-day moving average price is $77.44. Fortune Brands Innovations, Inc. has a 52-week low of $62.54 and a 52-week high of $90.54. The stock has a market capitalization of $8.14 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 2.01 and a beta of 1.50.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its 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 return on equity of 22.05% and a net margin of 10.24%. On average, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.
Fortune Brands Innovations Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. This is an increase from Fortune Brands Innovations's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations's dividend payout ratio is presently 25.60%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on FBIN shares. UBS Group dropped their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company 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 for the company in a research note on Thursday, November 7th. Truist Financial boosted their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Robert W. Baird dropped their price target 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. Finally, Barclays dropped their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating for the company 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. According to data from MarketBeat.com, Fortune Brands Innovations has an average rating of "Hold" and a consensus price target of $86.64.
Check Out Our Latest Stock Analysis on FBIN
Insider Activity
In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company's stock.
About Fortune Brands Innovations
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding FBIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Fortune Brands Innovations, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fortune Brands Innovations wasn't on the list.
While Fortune Brands Innovations currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
