Fortune Brands Innovations, Inc. (NYSE:FBIN) Position Reduced by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC reduced its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,509 shares of the company’s stock after selling 416 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Fortune Brands Innovations were worth $551,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FBIN. Choreo LLC purchased a new position in Fortune Brands Innovations during the fourth quarter valued at approximately $422,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Fortune Brands Innovations by 24.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,137 shares of the company’s stock valued at $4,607,000 after acquiring an additional 12,217 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Fortune Brands Innovations by 383.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 39,596 shares of the company’s stock worth $3,015,000 after acquiring an additional 31,406 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Fortune Brands Innovations by 3.6% during the fourth quarter. Schroder Investment Management Group now owns 620,402 shares of the company’s stock worth $47,237,000 after acquiring an additional 21,517 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Fortune Brands Innovations by 9.0% during the fourth quarter. Allianz Asset Management GmbH now owns 841,545 shares of the company’s stock valued at $64,075,000 after purchasing an additional 69,502 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

FBIN stock traded down $0.09 during midday trading on Thursday, hitting $65.08. 782,860 shares of the company traded hands, compared to its average volume of 1,128,318. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $84.92. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.76 and a beta of 1.57. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33. The business has a 50 day simple moving average of $70.51 and a 200-day simple moving average of $76.06.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. As a group, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.31 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Thursday, May 23rd. Fortune Brands Innovations’s payout ratio is 29.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FBIN shares. Evercore ISI cut their price target on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research note on Wednesday, May 1st. Robert W. Baird raised their price objective on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and an average target price of $80.38.

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.