Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Everhart Financial Group Inc.

Everhart Financial Group Inc. lessened its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,822 shares of the company’s stock after selling 349 shares during the period. Everhart Financial Group Inc.’s holdings in Fortune Brands Innovations were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FBIN. FMR LLC raised its holdings in Fortune Brands Innovations by 104.5% in the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after acquiring an additional 3,024,950 shares during the last quarter. Arvest Bank Trust Division acquired a new stake in Fortune Brands Innovations in the 3rd quarter valued at about $17,621,000. Ceredex Value Advisors LLC acquired a new stake in Fortune Brands Innovations in the 3rd quarter valued at about $13,170,000. Prospector Partners LLC acquired a new stake in Fortune Brands Innovations in the 3rd quarter valued at about $11,953,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Fortune Brands Innovations by 11.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock valued at $111,650,000 after acquiring an additional 130,170 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $68.98 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The stock has a market capitalization of $8.57 billion, a P/E ratio of 18.39, a PEG ratio of 2.01 and a beta of 1.50. The company has a 50 day moving average price of $71.33 and a 200 day moving average price of $77.78. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.25% and a net margin of 10.24%. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.53 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 25.60%.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Robert W. Baird cut their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. UBS Group cut their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Royal Bank of Canada cut their price target on shares of 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 cut their price target on shares of 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 raised their price target on shares of 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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.