Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Baldwin Brothers LLC MA

Baldwin Brothers LLC MA lowered its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,377 shares of the company’s stock after selling 300 shares during the period. Baldwin Brothers LLC MA’s holdings in Fortune Brands Innovations were worth $479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tobam lifted its stake in Fortune Brands Innovations by 1,181.5% during the fourth quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after purchasing an additional 319 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Fortune Brands Innovations in the 4th quarter worth about $29,000. LRI Investments LLC acquired a new position in shares of Fortune Brands Innovations in the 1st quarter valued at about $34,000. First United Bank & Trust bought a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at about $38,000. Finally, Rise Advisors LLC acquired a new stake in Fortune Brands Innovations during the first quarter worth about $38,000. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Price Performance

FBIN stock traded up $0.01 during trading hours on Friday, hitting $73.07. 960,399 shares of the stock traded hands, compared to its average volume of 1,233,458. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. The stock has a 50-day simple moving average of $69.49 and a 200 day simple moving average of $74.73. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $84.92. The company has a market cap of $9.14 billion, a P/E ratio of 22.35, a P/E/G ratio of 2.49 and a beta of 1.52.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.24 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.31%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.36%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FBIN. JPMorgan Chase & Co. increased their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Evercore ISI lowered their price target on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research report on Wednesday, May 1st. Truist Financial boosted their target price on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Robert W. Baird raised their price target on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Loop Capital cut their price target on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $83.20.

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.