Aspire Private Capital LLC Raises Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Aspire Private Capital LLC boosted its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 50.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 4,559 shares of the company’s stock after acquiring an additional 1,538 shares during the period. Aspire Private Capital LLC’s holdings in Fortune Brands Innovations were worth $278,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in Fortune Brands Innovations by 75.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 29,635 shares of the company’s stock valued at $2,003,000 after purchasing an additional 12,732 shares in the last quarter. Principal Securities Inc. raised its position in shares of Fortune Brands Innovations by 27.8% in the fourth quarter. Principal Securities Inc. now owns 1,731 shares of the company’s stock valued at $118,000 after buying an additional 377 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Fortune Brands Innovations by 6.0% during the fourth quarter. Sanctuary Advisors LLC now owns 5,305 shares of the company’s stock valued at $389,000 after buying an additional 302 shares during the period. CIBC Asset Management Inc boosted its position in Fortune Brands Innovations by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock worth $260,000 after acquiring an additional 201 shares during the last quarter. Finally, Atria Wealth Solutions Inc. grew its stake in Fortune Brands Innovations by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock worth $222,000 after acquiring an additional 156 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $50.14 on Friday. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 2.77 and a beta of 1.38. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.41 and a quick ratio of 0.72. The stock’s 50-day moving average is $51.97 and its 200-day moving average is $61.72.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortune Brands Innovations had a net margin of 9.42% and a return on equity of 20.96%. The company’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. Equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Tuesday, May 27th. Fortune Brands Innovations’s payout ratio is currently 29.33%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen upgraded Fortune Brands Innovations from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Barclays dropped their target price on Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Truist Financial set a $65.00 price target on Fortune Brands Innovations in a research note on Wednesday, May 7th. UBS Group dropped their price objective on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, Robert W. Baird cut their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $77.17.

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.