Siemens Fonds Invest GmbH Acquires Shares of 1,109 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Siemens Fonds Invest GmbH acquired a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,109 shares of the company’s stock, valued at approximately $76,000.

Other institutional investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new stake in Fortune Brands Innovations during the 4th quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. purchased a new stake in Fortune Brands Innovations during the 4th quarter valued at approximately $55,000. IFP Advisors Inc grew its holdings in Fortune Brands Innovations by 47.6% during the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after buying an additional 275 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Fortune Brands Innovations during the 4th quarter valued at approximately $82,000. Finally, Blue Trust Inc. boosted its position in shares of Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after acquiring an additional 219 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FBIN. Barclays lowered their target price on Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a “hold” rating and a $70.00 target price for the company. Royal Bank of Canada lowered their target price on 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. Finally, UBS Group lowered their target price on 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. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and an average target price of $77.17.

Fortune Brands Innovations Stock Up 1.7%

NYSE:FBIN opened at $55.59 on Monday. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $90.54. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 2.00 and a beta of 1.49. The stock has a fifty day simple moving average of $55.72 and a 200-day simple moving average of $66.37. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results 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 22.05% and a net margin of 10.24%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $0.83 earnings per share. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. Analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 29.33%.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Kristin Papesh purchased 483 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the purchase, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. This represents a 6.77% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

About Fortune Brands Innovations

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.