Quent Capital LLC Boosts Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Quent Capital LLC lifted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 20.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,586 shares of the company’s stock after purchasing an additional 436 shares during the quarter. Quent Capital LLC’s holdings in Fortune Brands Innovations were worth $177,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new position in shares of Fortune Brands Innovations in the 3rd quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Fortune Brands Innovations during the 4th quarter valued at about $55,000. Raleigh Capital Management Inc. boosted its holdings in Fortune Brands Innovations by 31.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after acquiring an additional 216 shares during the period. Darwin Wealth Management LLC purchased a new stake in Fortune Brands Innovations during the 3rd quarter valued at about $81,000. Finally, Blue Trust Inc. boosted its holdings in Fortune Brands Innovations by 35.4% during the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the company’s stock valued at $109,000 after acquiring an additional 318 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the transaction, the executive vice president now owns 10,066 shares of the company’s stock, valued at $693,950.04. This trade represents a 12.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Stock Down 0.5 %

Shares of NYSE:FBIN opened at $68.93 on Thursday. Fortune Brands Innovations, Inc. has a 52-week low of $62.54 and a 52-week high of $90.54. The firm has a market capitalization of $8.56 billion, a P/E ratio of 18.38, a P/E/G ratio of 2.01 and a beta of 1.50. The stock has a 50 day moving average price of $71.73 and a 200-day moving average price of $77.97. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.25% and a net margin of 10.24%. As a group, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.53 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.25 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.45%. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio is currently 25.60%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FBIN shares. UBS Group dropped their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group dropped their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Royal Bank of Canada dropped their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Barclays dropped their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Finally, BMO Capital Markets increased their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $86.64.

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.