Eagle Bay Advisors LLC Has $48,000 Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Eagle Bay Advisors LLC cut its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 39.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 738 shares of the company’s stock after selling 481 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Fortune Brands Innovations were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Fortune Brands Innovations by 8.9% in the first quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock valued at $139,000 after acquiring an additional 134 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of Fortune Brands Innovations by 2.2% in the 4th quarter. Apollon Wealth Management LLC now owns 6,867 shares of the company’s stock worth $523,000 after acquiring an additional 149 shares in the last quarter. Addison Advisors LLC lifted its stake in shares of Fortune Brands Innovations by 38.7% in the 4th quarter. Addison Advisors LLC now owns 563 shares of the company’s stock valued at $43,000 after purchasing an additional 157 shares during the period. Choreo LLC boosted its position in shares of Fortune Brands Innovations by 2.9% during the 1st quarter. Choreo LLC now owns 5,701 shares of the company’s stock valued at $483,000 after purchasing an additional 163 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Fortune Brands Innovations by 2.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock worth $665,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 0.9 %

Shares of Fortune Brands Innovations stock traded down $0.73 on Wednesday, hitting $78.57. The stock had a trading volume of 171,556 shares, compared to its average volume of 1,218,283. The stock has a market cap of $9.83 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.49 and a beta of 1.52. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The stock’s 50-day simple moving average is $71.94 and its two-hundred day simple moving average is $74.59. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $84.92.

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

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Friday, August 23rd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Friday, August 23rd. Fortune Brands Innovations’s payout ratio is currently 29.36%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FBIN shares. Robert W. Baird upped their price target on Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Loop Capital lowered their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Barclays lifted their price target on Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. The Goldman Sachs Group raised their target price on Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Evercore ISI dropped their price objective on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, May 1st. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $83.20.

About Fortune Brands Innovations

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.