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

Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Kristin Papesh purchased 483 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price 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 approximately $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $62.43 on Thursday. Fortune Brands Innovations, Inc. has a 1-year low of $60.81 and a 1-year high of $90.54. The stock has a market cap of $7.65 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 2.00 and a beta of 1.50. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The firm has a fifty day moving average price of $69.24 and a 200 day moving average price of $76.90.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. As a group, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.25 dividend. The ex-dividend date is Friday, February 21st. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.60%. Fortune Brands Innovations’s payout ratio is 26.67%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in Fortune Brands Innovations in the third quarter valued at $25,000. Flagship Wealth Advisors LLC acquired a new position in shares of Fortune Brands Innovations during the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations during the fourth quarter worth about $55,000. IFP Advisors Inc increased its stake in shares of Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after acquiring an additional 275 shares during the period. Finally, Siemens Fonds Invest GmbH acquired a new position in shares of Fortune Brands Innovations during the fourth quarter worth about $76,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FBIN shares. Truist Financial lifted their target price 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. The Goldman Sachs Group decreased their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Barclays decreased their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. UBS Group decreased their price target 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. Finally, Evercore ISI decreased their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently 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.