Motco Sells 500 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Motco lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 33.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,000 shares of the company’s stock after selling 500 shares during the quarter. Motco’s holdings in Fortune Brands Innovations were worth $68,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Fortune Brands Innovations in the third quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. bought a new position in shares of Fortune Brands Innovations in the fourth quarter valued at approximately $55,000. IFP Advisors Inc boosted its position in shares of Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after acquiring an additional 275 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Fortune Brands Innovations in the third quarter valued at approximately $81,000. Finally, Blue Trust Inc. boosted its position in shares of Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after acquiring an additional 219 shares during the period. Institutional investors own 87.60% of the company’s stock.

Insider Activity at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now directly 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 filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by company insiders.

Fortune Brands Innovations Trading Down 0.4 %

FBIN stock opened at $64.70 on Friday. The company has a market capitalization of $8.04 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 2.00 and a beta of 1.50. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The company’s 50 day moving average price is $69.69 and its two-hundred day moving average price is $77.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate 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, analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal 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 issued a dividend of $0.25 per share. This is a positive change 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 1.55%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is currently 26.67%.

Analyst Ratings Changes

A number of equities analysts have recently commented on FBIN shares. UBS Group cut their price objective 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. The Goldman Sachs Group dropped 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. Royal Bank of Canada dropped their target price on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Robert W. Baird dropped their target price on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, 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 research report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.