Hollencrest Capital Management Takes $487,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Hollencrest Capital Management bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,000 shares of the company’s stock, valued at approximately $487,000.

Other large investors also recently made changes to their positions in the company. Saturna Capital Corp bought a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $225,000. Tributary Capital Management LLC grew its stake in shares of Fortune Brands Innovations by 4.3% in the 1st quarter. Tributary Capital Management LLC now owns 13,215 shares of the company’s stock valued at $805,000 after buying an additional 539 shares in the last quarter. Apollon Wealth Management LLC grew its stake in shares of Fortune Brands Innovations by 4.9% in the 1st quarter. Apollon Wealth Management LLC now owns 6,205 shares of the company’s stock valued at $378,000 after buying an additional 292 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of Fortune Brands Innovations by 26.9% in the 1st quarter. Bleakley Financial Group LLC now owns 22,022 shares of the company’s stock valued at $1,341,000 after buying an additional 4,668 shares in the last quarter. Finally, CWM LLC grew its stake in shares of Fortune Brands Innovations by 13.3% in the 1st quarter. CWM LLC now owns 2,933 shares of the company’s stock valued at $179,000 after buying an additional 344 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 0.2%

FBIN opened at $53.86 on Friday. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54. The company has a current ratio of 1.41, a quick ratio of 0.72 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 2.90 and a beta of 1.36. The business has a 50 day moving average of $52.23 and a 200-day moving average of $59.13.

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

Fortune Brands Innovations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. Fortune Brands Innovations’s payout ratio is 29.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank Of Canada lowered their price target on Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 7th. Wall Street Zen raised Fortune Brands Innovations from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Barclays upped their target price on Fortune Brands Innovations from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft initiated 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. Finally, Robert W. Baird decreased their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $77.27.

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.