Fortune Brands Innovations, Inc. $FBIN Stock Position Lowered by Fiduciary Management Inc. WI

Fiduciary Management Inc. WI lessened its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,127,508 shares of the company’s stock after selling 146,128 shares during the quarter. Fiduciary Management Inc. WI’s holdings in Fortune Brands Innovations were worth $106,418,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Fortune Brands Innovations by 0.8% during the 1st quarter. Royal Bank of Canada now owns 41,713 shares of the company’s stock worth $2,539,000 after purchasing an additional 324 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Fortune Brands Innovations by 20.5% during the 1st quarter. Empowered Funds LLC now owns 10,335 shares of the company’s stock worth $629,000 after purchasing an additional 1,761 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Fortune Brands Innovations by 83.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 852 shares of the company’s stock worth $52,000 after purchasing an additional 388 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Fortune Brands Innovations by 7.6% during the 2nd quarter. Cetera Investment Advisers now owns 10,382 shares of the company’s stock worth $534,000 after buying an additional 731 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after buying an additional 323 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

FBIN has been the subject of a number of research reports. The Goldman Sachs Group reduced their price target on shares of Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Barclays reduced their price objective on shares of Fortune Brands Innovations from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. BMO Capital Markets reduced their price objective on shares of Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 20th. Truist Financial reduced their price objective on shares of Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating for the company in a report on Friday, May 8th. Finally, Zacks Research downgraded shares of Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Fortune Brands Innovations has an average rating of “Hold” and an average price target of $51.31.

Insider Buying and Selling

In other Fortune Brands Innovations news, Director Edward P. Garden bought 403,000 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $33.40 per share, for a total transaction of $13,460,200.00. Following the completion of the acquisition, the director owned 3,556,867 shares of the company’s stock, valued at $118,799,357.80. This trade represents a 12.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 466,300 shares of company stock worth $15,659,238 in the last ninety days. Corporate insiders own 3.32% of the company’s stock.

Fortune Brands Innovations Stock Down 0.7%

Shares of NYSE:FBIN opened at $39.06 on Friday. Fortune Brands Innovations, Inc. has a one year low of $32.34 and a one year high of $64.84. The company has a 50 day moving average of $38.63 and a 200-day moving average of $47.33. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 2.52 and a beta of 1.37.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. Fortune Brands Innovations’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 EPS. On average, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 3.13 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, May 22nd. This represents a $1.04 annualized dividend and a yield of 2.7%. Fortune Brands Innovations’s dividend payout ratio is presently 46.22%.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.