Klein Pavlis & Peasley Financial Inc. Increases Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Klein Pavlis & Peasley Financial Inc. lifted its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 11.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,100 shares of the company’s stock after buying an additional 2,400 shares during the quarter. Fortune Brands Innovations comprises about 1.3% of Klein Pavlis & Peasley Financial Inc.’s holdings, making the stock its 27th biggest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in Fortune Brands Innovations were worth $1,578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. FMR LLC lifted its position in Fortune Brands Innovations by 104.5% in the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after acquiring an additional 3,024,950 shares during the last quarter. Arvest Bank Trust Division acquired a new stake in shares of Fortune Brands Innovations in the 3rd quarter valued at about $17,621,000. Ceredex Value Advisors LLC acquired a new position in Fortune Brands Innovations during the third quarter worth approximately $13,170,000. Millennium Management LLC acquired a new position in Fortune Brands Innovations during the second quarter worth approximately $9,271,000. Finally, Prospector Partners LLC acquired a new stake in shares of Fortune Brands Innovations in the third quarter valued at approximately $11,953,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented 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. BMO Capital Markets upped their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Jefferies Financial Group raised their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays reduced their price objective on Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Finally, UBS Group lowered their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $89.36.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $69.29 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The stock has a 50 day simple moving average of $72.70 and a 200-day simple moving average of $78.10. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 2.09 and a beta of 1.50. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the business posted $1.19 earnings per share. Fortune Brands Innovations’s revenue was down 8.4% compared to the same quarter last year. On average, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 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. Stockholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. 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 dividend yield of 1.44%. Fortune Brands Innovations’s dividend payout ratio is 27.04%.

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.