7,250 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Acquired by Chancellor Financial Group WB LP

Chancellor Financial Group WB LP purchased a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,250 shares of the company's stock, valued at approximately $495,000.

A number of other hedge funds have also modified their holdings of FBIN. Janney Montgomery Scott LLC boosted its position in shares of Fortune Brands Innovations by 3.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 10,663 shares of the company's stock worth $729,000 after purchasing an additional 320 shares during the period. Blue Trust Inc. boosted its position in shares of Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after purchasing an additional 219 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Fortune Brands Innovations in the fourth quarter worth approximately $2,385,000. KBC Group NV boosted its position in shares of Fortune Brands Innovations by 30.9% in the fourth quarter. KBC Group NV now owns 163,466 shares of the company's stock worth $11,169,000 after purchasing an additional 38,546 shares during the period. Finally, Lebenthal Global Advisors LLC boosted its position in shares of Fortune Brands Innovations by 3.8% in the fourth quarter. Lebenthal Global Advisors LLC now owns 5,806 shares of the company's stock worth $397,000 after purchasing an additional 214 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on FBIN. UBS Group dropped their price target on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Robert W. Baird dropped their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Truist Financial set a $65.00 price target on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday. Finally, Royal Bank of Canada dropped their target price on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 7th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $77.17.

Fortune Brands Innovations Price Performance

FBIN stock traded down $0.67 during trading on Friday, hitting $50.42. 11,924,564 shares of the company's stock traded hands, compared to its average volume of 1,575,530. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The business has a fifty day simple moving average of $53.72 and a 200 day simple moving average of $64.69. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 2.00 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business earned $0.83 earnings per share. Fortune Brands Innovations's quarterly revenue was down 6.9% compared to the same quarter last year. As a group, research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.98%. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 29.33%.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the transaction, the executive vice president now owns 7,617 shares of the company's stock, valued at approximately $472,177.83. This trade represents a 6.77% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company's stock.

Fortune Brands Innovations Company 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.