Geneva Capital Management LLC decreased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 11.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,700 shares of the company's stock after selling 8,653 shares during the quarter. Geneva Capital Management LLC owned 0.05% of Fortune Brands Innovations worth $4,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Trust Point Inc. purchased a new position in shares of Fortune Brands Innovations in the fourth quarter worth about $319,000. SG Americas Securities LLC grew its position in Fortune Brands Innovations by 812.5% during the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company's stock worth $2,292,000 after acquiring an additional 29,867 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Fortune Brands Innovations by 75.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 29,635 shares of the company's stock worth $2,003,000 after purchasing an additional 12,732 shares during the period. Nordea Investment Management AB lifted its position in Fortune Brands Innovations by 1.9% in the fourth quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company's stock valued at $132,335,000 after purchasing an additional 35,289 shares during the last quarter. Finally, KBC Group NV boosted its stake 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 valued at $11,169,000 after purchasing an additional 38,546 shares during the period. Hedge funds and other institutional investors own 87.60% of the company's stock.
Analyst Ratings Changes
Several brokerages recently commented on FBIN. UBS Group decreased their target price on shares of 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. Barclays decreased their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group dropped their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Finally, Royal Bank of Canada reduced their price target on 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. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $86.64.
Get Our Latest Stock Report on FBIN
Insiders Place Their Bets
In related news, EVP Kristin Papesh purchased 483 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $61.99 per share, with a total value of $29,941.17. Following the transaction, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ron Wilson sold 1,500 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.
Fortune Brands Innovations Stock Up 1.0 %
Shares of NYSE:FBIN traded up $0.62 during trading on Friday, hitting $63.83. The stock had a trading volume of 1,688,916 shares, compared to its average volume of 1,236,752. The company has a market capitalization of $7.82 billion, a PE ratio of 17.02, a PEG ratio of 2.00 and a beta of 1.53. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The firm's fifty day moving average is $69.10 and its 200 day moving average is $76.81. 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 - Get Free Report) last posted its quarterly earnings data 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%. Analysts anticipate 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. Investors of record on Friday, February 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.57%. This is a positive change from Fortune Brands Innovations's previous quarterly dividend of $0.24. Fortune Brands Innovations's payout ratio is presently 26.67%.
Fortune Brands Innovations Profile
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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.
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