Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Acquires $29,941.17 in Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the acquisition, the executive vice president now directly owns 7,617 shares of the company's stock, valued at approximately $472,177.83. The trade was a 6.77 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Fortune Brands Innovations Price Performance

FBIN traded up $0.62 on Friday, hitting $63.83. 1,688,916 shares of the company were exchanged, compared to its average volume of 1,239,294. 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 business's fifty day moving average is $68.99 and its 200 day moving average is $76.71. Fortune Brands Innovations, Inc. has a fifty-two week low of $60.81 and a fifty-two week high of $90.54. The firm has a market capitalization of $7.82 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its 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, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

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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 given a $0.25 dividend. The ex-dividend date is Friday, February 21st. This is a positive change from Fortune Brands Innovations's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. Fortune Brands Innovations's dividend payout ratio is currently 26.67%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating on the stock in a research note on Friday, February 7th. UBS Group dropped 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 research note on Friday, February 7th. The Goldman Sachs Group dropped 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 research note on Tuesday, January 14th. Finally, Royal Bank of Canada dropped 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 research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $86.64.

Institutional Trading of Fortune Brands Innovations

Several large investors have recently modified their holdings of the business. CIBC Asset Management Inc grew its position in shares of Fortune Brands Innovations by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company's stock valued at $323,000 after purchasing an additional 121 shares during the last quarter. Smithfield Trust Co grew its position in shares of Fortune Brands Innovations by 4.6% in the third quarter. Smithfield Trust Co now owns 3,031 shares of the company's stock valued at $271,000 after purchasing an additional 133 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its position in shares of Fortune Brands Innovations by 1.7% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company's stock valued at $556,000 after purchasing an additional 138 shares during the last quarter. Atria Wealth Solutions Inc. grew its position in shares of Fortune Brands Innovations by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock valued at $222,000 after purchasing an additional 156 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Fortune Brands Innovations by 11.2% during the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company's stock valued at $115,000 after buying an additional 170 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

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.