Natixis Advisors LLC Buys 23,137 Shares of Fortune Brands Innovations, Inc. $FBIN

Natixis Advisors LLC raised its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 12.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 213,276 shares of the company’s stock after acquiring an additional 23,137 shares during the period. Natixis Advisors LLC’s holdings in Fortune Brands Innovations were worth $10,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of FBIN. Danske Bank A S bought a new stake in Fortune Brands Innovations in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its holdings in Fortune Brands Innovations by 158.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after purchasing an additional 323 shares during the period. V Square Quantitative Management LLC bought a new stake in Fortune Brands Innovations in the 4th quarter valued at $28,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Fortune Brands Innovations by 1,275.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock valued at $28,000 after purchasing an additional 510 shares during the period. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Fortune Brands Innovations during the third quarter worth $31,000. 87.60% of the stock is owned by institutional investors.

Insider Transactions at Fortune Brands Innovations

In other news, Director Edward P. Garden purchased 403,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average cost of $33.40 per share, with a total value of $13,460,200.00. Following the acquisition, the director directly owned 3,556,867 shares of the company’s stock, valued at approximately $118,799,357.80. This trade represents a 12.78% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have bought 466,300 shares of company stock worth $15,659,238. Company insiders own 3.32% of the company’s stock.

Analyst Upgrades and Downgrades

FBIN has been the topic of a number of recent research reports. Bank of America decreased their price target on shares of Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating on the stock in a research note on Monday, April 20th. UBS Group reduced their price objective on shares of Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating for the company in a report on Friday, May 8th. Robert W. Baird set a $44.00 price objective on shares of Fortune Brands Innovations in a report on Friday, May 8th. The Goldman Sachs Group reduced their price objective on shares of Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.31.

Fortune Brands Innovations Price Performance

NYSE:FBIN opened at $39.06 on Friday. The company has a 50-day moving average of $38.63 and a 200-day moving average of $47.33. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 2.52 and a beta of 1.37. Fortune Brands Innovations, Inc. has a 52 week low of $32.34 and a 52 week high of $64.84. 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 (NYSE:FBIN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS. As a group, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 3.13 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 46.22%.

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.