Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Ron Wilson Sells 1,500 Shares

Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred 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 owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Fortune Brands Innovations Stock Performance

Shares of FBIN traded up $0.79 during mid-day trading on Tuesday, hitting $69.34. The company’s stock had a trading volume of 2,016,044 shares, compared to its average volume of 1,586,313. The stock’s 50-day moving average is $72.12 and its two-hundred day moving average is $78.10. The firm has a market capitalization of $8.61 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 2.01 and a beta of 1.50. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued 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 22.25%. As a group, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.53 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.44%. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s payout ratio is currently 25.60%.

Hedge Funds Weigh In On Fortune Brands Innovations

Large investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Fortune Brands Innovations in the third quarter worth about $25,000. Flagship Wealth Advisors LLC acquired a new position in shares of Fortune Brands Innovations in the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations in the 4th quarter worth approximately $55,000. IFP Advisors Inc lifted its position in shares of Fortune Brands Innovations by 47.6% during the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after buying an additional 275 shares during the period. Finally, Raleigh Capital Management Inc. boosted its stake in Fortune Brands Innovations by 31.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after buying an additional 216 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. 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. Evercore ISI cut their target price 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. BMO Capital Markets upped their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Barclays lowered their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group decreased their target price on 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. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $86.64.

About Fortune Brands Innovations

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.