Simon Quick Advisors LLC Decreases Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Simon Quick Advisors LLC reduced its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,755 shares of the company’s stock after selling 260 shares during the period. Simon Quick Advisors LLC’s holdings in Fortune Brands Innovations were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of FBIN. UMB Bank n.a. grew its position in shares of Fortune Brands Innovations by 11.2% during the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after acquiring an additional 170 shares during the period. HB Wealth Management LLC increased its position in Fortune Brands Innovations by 26.1% in the fourth quarter. HB Wealth Management LLC now owns 3,973 shares of the company’s stock worth $271,000 after buying an additional 822 shares in the last quarter. Professional Advisory Services Inc. raised its stake in shares of Fortune Brands Innovations by 8.0% in the fourth quarter. Professional Advisory Services Inc. now owns 281,954 shares of the company’s stock worth $19,266,000 after buying an additional 20,948 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Fortune Brands Innovations by 3.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 11,754 shares of the company’s stock valued at $803,000 after buying an additional 385 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its stake in shares of Fortune Brands Innovations by 6.6% during the 4th quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock valued at $208,000 after acquiring an additional 190 shares during the period. Institutional investors own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FBIN. UBS Group decreased their target price on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets upped their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Robert W. Baird decreased their price target on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group upped their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Truist Financial lifted their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $89.36.

Fortune Brands Innovations Stock Down 1.7 %

NYSE FBIN opened at $73.13 on Thursday. The stock has a 50 day moving average price of $73.57 and a 200-day moving average price of $77.95. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The company has a market capitalization of $9.08 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.21 and a beta of 1.49. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The business’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the company posted $1.19 EPS. As a group, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.37%. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 27.04%.

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.