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

Inceptionr LLC acquired a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 21,946 shares of the company’s stock, valued at approximately $1,500,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Fortune Brands Innovations in the 3rd quarter worth about $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Fortune Brands Innovations in the 4th quarter worth about $55,000. IFP Advisors Inc increased its holdings in Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after buying an additional 275 shares during the period. Darwin Wealth Management LLC bought a new position in Fortune Brands Innovations in the 3rd quarter valued at about $81,000. Finally, Blue Trust Inc. increased its holdings in Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after buying an additional 219 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Truist Financial raised 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. Royal Bank of Canada decreased their target price on shares of 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. 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 report on Friday, February 7th. Robert W. Baird decreased their target price on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, The Goldman Sachs Group decreased their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $86.64.

Insiders Place Their Bets

In other 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 price of $61.99 per share, for a total transaction of $29,941.17. Following the transaction, the executive vice president now owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the business’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 transaction of $103,410.00. Following the completion of the transaction, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Trading Up 2.0 %

FBIN opened at $62.43 on Thursday. Fortune Brands Innovations, Inc. has a fifty-two week low of $60.81 and a fifty-two week high of $90.54. 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 market capitalization of $7.65 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 2.00 and a beta of 1.50. The company’s 50 day moving average price is $69.24 and its two-hundred day moving average price is $76.90.

Fortune Brands Innovations (NYSE:FBIN) last posted its 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 return on equity of 22.05% and a net margin of 10.24%. As a group, research 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 announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.60%. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s payout ratio is presently 26.67%.

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.