Rhumbline Advisers Boosts Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Rhumbline Advisers boosted its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 361,956 shares of the company's stock after buying an additional 9,237 shares during the quarter. Rhumbline Advisers owned approximately 0.29% of Fortune Brands Innovations worth $24,732,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FBIN. Brooklyn Investment Group purchased a new position in shares of Fortune Brands Innovations during the 3rd quarter valued at $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Fortune Brands Innovations during the 4th quarter valued at $55,000. Raleigh Capital Management Inc. lifted its stake in shares of 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 buying an additional 216 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Fortune Brands Innovations during the 3rd quarter valued at $81,000. Finally, Blue Trust Inc. lifted its stake in shares of Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock valued at $98,000 after buying an additional 219 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial boosted their target price on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. 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. Royal Bank of Canada cut their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. UBS Group cut their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Finally, Evercore ISI cut their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating on the stock in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Fortune Brands Innovations currently has a consensus rating of "Hold" and an average target price of $86.64.

Fortune Brands Innovations Stock Down 1.7 %

Shares of FBIN traded down $1.13 during mid-day trading on Friday, hitting $65.51. The company's stock had a trading volume of 1,243,394 shares, compared to its average volume of 1,624,414. Fortune Brands Innovations, Inc. has a 52-week low of $62.54 and a 52-week high of $90.54. The company's 50-day moving average is $70.29 and its 200-day moving average is $77.44. 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 firm has a market capitalization 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 - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. This is a positive change from Fortune Brands Innovations's previous quarterly dividend of $0.24. Fortune Brands Innovations's dividend payout ratio is presently 25.60%.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction on Monday, February 10th. The shares were 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 approximately $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company's stock.

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.