Hollencrest Capital Management Buys Shares of 8,000 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Hollencrest Capital Management acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,000 shares of the company's stock, valued at approximately $487,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $26,000. CX Institutional purchased a new position in Fortune Brands Innovations during the 1st quarter worth $29,000. Alpine Bank Wealth Management purchased a new position in Fortune Brands Innovations during the 1st quarter worth $62,000. Raleigh Capital Management Inc. grew its position in Fortune Brands Innovations by 28.2% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock worth $62,000 after purchasing an additional 224 shares during the last quarter. Finally, Siemens Fonds Invest GmbH acquired a new stake in shares of Fortune Brands Innovations in the 4th quarter worth $76,000. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN traded down $0.40 during trading on Monday, reaching $52.92. 928,930 shares of the company traded hands, compared to its average volume of 1,625,863. The company's 50 day moving average is $52.27 and its two-hundred day moving average is $58.90. The firm has a market capitalization of $6.36 billion, a PE ratio of 15.52, a PEG ratio of 2.94 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.41 and a debt-to-equity ratio of 1.06. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. Fortune Brands Innovations had a return on equity of 20.96% and a net margin of 9.42%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company earned $0.83 EPS. Fortune Brands Innovations's revenue for the quarter was down 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be paid a $0.25 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 29.33%.

Analyst Upgrades and Downgrades

FBIN has been the subject of several recent research reports. 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 report on Wednesday, May 7th. Robert W. Baird lowered 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 report on Wednesday, May 7th. UBS Group lowered 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 report on Wednesday, May 7th. Barclays boosted their target price on shares of Fortune Brands Innovations from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Truist Financial set a $65.00 price target on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $77.27.

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.