D.A. Davidson & CO. Increases Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

D.A. Davidson & CO. raised its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,666 shares of the company’s stock after acquiring an additional 2,135 shares during the quarter. D.A. Davidson & CO. owned approximately 0.06% of Fortune Brands Innovations worth $6,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of FBIN. Tobam lifted its position in Fortune Brands Innovations by 1,181.5% during the fourth quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after buying an additional 319 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of Fortune Brands Innovations during the fourth quarter worth $27,000. Principal Securities Inc. bought a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $29,000. Operose Advisors LLC bought a new stake in shares of Fortune Brands Innovations in the third quarter worth $31,000. Finally, First United Bank & Trust bought a new stake in Fortune Brands Innovations during the fourth quarter valued at $38,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Down 1.3 %

Shares of Fortune Brands Innovations stock opened at $70.91 on Thursday. The stock has a market capitalization of $8.87 billion, a P/E ratio of 21.69, a PEG ratio of 1.98 and a beta of 1.58. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33. The stock has a 50 day moving average price of $76.95 and a two-hundred day moving average price of $75.86. Fortune Brands Innovations, Inc. has a 12-month low of $54.10 and a 12-month high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. Fortune Brands Innovations’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share. Equities analysts expect that Fortune Brands Innovations, Inc. will post 4.31 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, May 23rd. This represents a $0.96 annualized dividend and a yield of 1.35%. Fortune Brands Innovations’s dividend payout ratio is currently 29.36%.

Insiders Place Their Bets

In related news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the transaction, the director now owns 2,435 shares in the company, valued at $197,478.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. BMO Capital Markets restated a “market perform” rating and set a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Evercore ISI cut their price objective on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, May 1st. Finally, Barclays upped their target price on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $79.22.

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.