Asset Planning Inc Takes $100,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Asset Planning Inc purchased a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,466 shares of the company’s stock, valued at approximately $100,000.

Several other institutional investors and hedge funds have also modified their holdings of FBIN. Brooklyn Investment Group bought a new stake in Fortune Brands Innovations in the third quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new stake in Fortune Brands Innovations in the fourth quarter worth $55,000. Raleigh Capital Management Inc. boosted its holdings in Fortune Brands Innovations by 31.7% in the third quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock worth $80,000 after purchasing an additional 216 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Fortune Brands Innovations in the third quarter worth $81,000. Finally, Blue Trust Inc. boosted its holdings in Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after purchasing an additional 219 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Down 0.7 %

Shares of FBIN opened at $68.40 on Friday. The company has a 50-day simple moving average of $71.53 and a 200-day simple moving average of $77.90. The firm has a market capitalization of $8.50 billion, a P/E ratio of 18.24, a P/E/G 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 52 week low of $62.54 and a 52 week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced 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 net margin of 10.24% and a return on equity of 22.25%. On average, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.53 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. Investors of record on Friday, February 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 1.46%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s payout ratio is presently 26.67%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FBIN. Evercore ISI decreased their price objective on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. BMO Capital Markets boosted their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Truist Financial boosted their target price on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays cut their target price 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. Finally, The Goldman Sachs Group cut their target price 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. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Fortune Brands Innovations currently has an average rating of “Hold” and a consensus price target of $86.64.

Insider Activity at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the sale, the executive vice president now owns 10,066 shares of the company’s stock, valued at $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.

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.