Impax Asset Management Group plc Buys 4,380 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Impax Asset Management Group plc increased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 32.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,780 shares of the company’s stock after acquiring an additional 4,380 shares during the period. Impax Asset Management Group plc’s holdings in Fortune Brands Innovations were worth $1,215,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CIBC Asset Management Inc raised its holdings in Fortune Brands Innovations by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after acquiring an additional 121 shares in the last quarter. Smithfield Trust Co raised its holdings in Fortune Brands Innovations by 4.6% during the third quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock worth $271,000 after acquiring an additional 133 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in Fortune Brands Innovations by 1.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock worth $556,000 after acquiring an additional 138 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in Fortune Brands Innovations by 5.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock worth $222,000 after acquiring an additional 156 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Fortune Brands Innovations by 11.2% in the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after buying an additional 170 shares during the period. Institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

FBIN has been the topic of several research analyst reports. Royal Bank of Canada dropped their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Evercore ISI dropped their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Robert W. Baird dropped their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Barclays dropped their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Finally, The Goldman Sachs Group dropped their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Six equities 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 stock has an average rating of “Hold” and an average target price of $86.64.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the sale, the executive vice president now owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

Fortune Brands Innovations Trading Up 2.4 %

Shares of NYSE:FBIN opened at $66.36 on Wednesday. The company has a market capitalization of $8.24 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.00 and a beta of 1.50. Fortune Brands Innovations, Inc. has a 1 year low of $62.54 and a 1 year high of $90.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The business’s 50 day simple moving average is $69.94 and its 200 day simple moving average is $77.40.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 1.51%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio is currently 25.60%.

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.