Tributary Capital Management LLC Has $866,000 Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Tributary Capital Management LLC grew its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 85.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,676 shares of the company’s stock after buying an additional 5,856 shares during the quarter. Tributary Capital Management LLC’s holdings in Fortune Brands Innovations were worth $866,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new stake in shares of Fortune Brands Innovations during the third quarter valued at approximately $25,000. Quarry LP increased its stake in Fortune Brands Innovations by 3,069.0% during the 2nd quarter. Quarry LP now owns 919 shares of the company’s stock valued at $60,000 after purchasing an additional 890 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in Fortune Brands Innovations by 31.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after purchasing an additional 216 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Fortune Brands Innovations during the third quarter worth $81,000. Finally, Blue Trust Inc. grew its holdings in shares of Fortune Brands Innovations by 35.4% during the third quarter. Blue Trust Inc. now owns 1,217 shares of the company’s stock valued at $109,000 after buying an additional 318 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FBIN. Jefferies Financial Group raised their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. UBS Group dropped their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets increased their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Truist Financial raised their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird reduced 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 research report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and an average target price of $89.36.

Fortune Brands Innovations Trading Down 0.5 %

Shares of FBIN stock opened at $72.51 on Friday. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. The company has a 50 day moving average of $73.49 and a 200-day moving average of $77.97. The firm has a market cap of $9.01 billion, a P/E ratio of 20.43, a PEG ratio of 2.17 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The business’s revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. Sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, February 21st. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 27.04%.

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.