Inceptionr LLC Invests $1.50 Million in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Inceptionr LLC purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,946 shares of the company's stock, valued at approximately $1,500,000.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Fortune Brands Innovations by 17.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the company's stock valued at $916,000 after acquiring an additional 1,531 shares during the last quarter. Stephens Inc. AR acquired a new position in Fortune Brands Innovations in the third quarter valued at about $231,000. Janney Montgomery Scott LLC lifted its stake in Fortune Brands Innovations by 10.7% in the third quarter. Janney Montgomery Scott LLC now owns 10,343 shares of the company's stock valued at $926,000 after buying an additional 1,001 shares during the period. Van ECK Associates Corp lifted its stake in Fortune Brands Innovations by 0.5% in the third quarter. Van ECK Associates Corp now owns 37,540 shares of the company's stock valued at $3,254,000 after buying an additional 173 shares during the period. Finally, Crestwood Advisors Group LLC acquired a new position in Fortune Brands Innovations in the third quarter valued at about $202,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN traded up $0.62 during midday trading on Friday, hitting $63.83. 1,688,916 shares of the company's stock were exchanged, compared to its average volume of 1,236,752. The firm has a market capitalization of $7.82 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The company's 50 day moving average price is $69.10 and its 200 day moving average price is $76.81. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 12 month low of $60.81 and a 12 month high of $90.54.

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Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share 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%. As a group, analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Fortune Brands Innovations's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.57%. Fortune Brands Innovations's payout ratio is currently 26.67%.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction 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 transaction, the executive vice president now directly owns 10,066 shares of the company's stock, valued at $693,950.04. The trade was a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristin Papesh purchased 483 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have 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 on the stock in a research report on Friday, February 7th. The Goldman Sachs Group decreased their price target on 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. Royal Bank of Canada decreased their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th. Finally, Barclays decreased 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Fortune Brands Innovations presently has an average 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.