Y Intercept Hong Kong Ltd Purchases New Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Y Intercept Hong Kong Ltd acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,593 shares of the company's stock, valued at approximately $1,065,000.

A number of other institutional investors have also recently made changes to their positions in FBIN. CIBC Asset Management Inc increased its holdings in 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 buying an additional 121 shares during the last quarter. Smithfield Trust Co raised its holdings 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 buying an additional 133 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in Fortune Brands Innovations by 1.7% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company's stock worth $556,000 after acquiring an additional 138 shares during the period. Atria Wealth Solutions Inc. increased its stake in Fortune Brands Innovations by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock valued at $222,000 after buying an additional 156 shares during the period. Finally, UMB Bank n.a. raised its position in Fortune Brands Innovations by 11.2% during the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company's stock worth $115,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group reduced their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Evercore ISI dropped their price objective on 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. The Goldman Sachs Group reduced their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Robert W. Baird lowered their price target on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Finally, Truist Financial increased their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $86.64.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN traded down $0.27 during trading on Friday, reaching $64.70. The company had a trading volume of 3,334,916 shares, compared to its average volume of 1,648,071. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a twelve month low of $62.54 and a twelve month high of $90.54. The stock has a 50-day moving average price of $69.69 and a two-hundred day moving average price of $77.20. The stock has a market capitalization of $8.04 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 2.00 and a beta of 1.50.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.98 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%. As a group, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current 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 given a $0.25 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. 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 26.67%.

Insider Activity

In related news, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the sale, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company's stock.

Fortune Brands Innovations 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.