Vulcan Value Partners LLC increased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) by 18.2% in the 4th quarter, Holdings Channel reports. The firm owned 353,520 shares of the company’s stock after buying an additional 54,492 shares during the period. Vulcan Value Partners LLC’s holdings in Fortune Brands Innovations were worth $17,683,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FBIN. Danske Bank A S purchased a new stake in Fortune Brands Innovations in the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after buying an additional 323 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Fortune Brands Innovations by 1,275.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock valued at $28,000 after buying an additional 510 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Fortune Brands Innovations during the 4th quarter valued at $28,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Fortune Brands Innovations in the 3rd quarter worth $31,000. Institutional investors own 87.60% of the company’s stock.
Fortune Brands Innovations Price Performance
Shares of Fortune Brands Innovations stock opened at $42.44 on Friday. Fortune Brands Innovations, Inc. has a one year low of $32.34 and a one year high of $64.84. The stock’s fifty day moving average is $39.38 and its 200 day moving average is $46.91. The stock has a market cap of $5.06 billion, a P/E ratio of 18.86, a P/E/G ratio of 2.74 and a beta of 1.37. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 2.13.
Fortune Brands Innovations Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd were paid a dividend of $0.26 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.04 dividend on an annualized basis and a yield of 2.5%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 46.22%.
Insiders Place Their Bets
In other news, Director Edward P. Garden purchased 403,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average cost of $33.40 per share, for a total transaction of $13,460,200.00. Following the completion of the transaction, the director directly owned 3,556,867 shares in the company, valued at $118,799,357.80. This trade represents a 12.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 786,367 shares of company stock worth $28,653,958 over the last quarter. 3.32% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
FBIN has been the subject of several research analyst reports. UBS Group cut their price objective on Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating for the company in a report on Friday, May 8th. Royal Bank Of Canada dropped their target price on Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. reduced their price target on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. BMO Capital Markets lowered their price objective on shares of Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, April 20th. Finally, Robert W. Baird set a $44.00 price objective on shares of Fortune Brands Innovations in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $51.31.
Check Out Our Latest Stock Report on Fortune Brands Innovations
About Fortune Brands Innovations
Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.
The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.
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