Geneva Capital Management LLC Sells 3,016 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Geneva Capital Management LLC cut its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.4% in the 4th quarter, HoldingsChannel reports. The fund owned 85,360 shares of the company’s stock after selling 3,016 shares during the quarter. Geneva Capital Management LLC’s holdings in Fortune Brands Innovations were worth $6,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FBIN. Charles Schwab Investment Management Inc. raised its holdings in shares of Fortune Brands Innovations by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 835,904 shares of the company’s stock valued at $63,646,000 after acquiring an additional 13,340 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Fortune Brands Innovations by 2.2% during the 4th quarter. Apollon Wealth Management LLC now owns 6,867 shares of the company’s stock valued at $523,000 after purchasing an additional 149 shares in the last quarter. Lincoln National Corp increased its position in shares of Fortune Brands Innovations by 22.6% during the fourth quarter. Lincoln National Corp now owns 4,259 shares of the company’s stock valued at $324,000 after buying an additional 786 shares during the period. Private Advisor Group LLC raised its stake in Fortune Brands Innovations by 58.3% in the fourth quarter. Private Advisor Group LLC now owns 6,457 shares of the company’s stock worth $492,000 after buying an additional 2,379 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC bought a new position in Fortune Brands Innovations in the fourth quarter worth about $65,000. 87.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FBIN shares. Oppenheimer started coverage on shares of Fortune Brands Innovations in a research note on Friday, January 19th. They issued a “market perform” rating for the company. Barclays increased their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Evercore ISI decreased 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 note on Wednesday, May 1st. Robert W. Baird upped their target price 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. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $79.22.

Insider Buying and Selling at Fortune Brands Innovations

In related news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the completion of the transaction, the director now directly owns 2,435 shares in the company, valued at $197,478.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.99% of the stock is owned by corporate insiders.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN traded up $0.24 on Friday, hitting $75.34. 85,391 shares of the company were exchanged, compared to its average volume of 1,068,604. The stock’s 50 day moving average price is $78.43 and its 200 day moving average price is $74.72. The company has a current ratio of 2.04, a quick ratio of 1.08 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $9.42 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 2.02 and a beta of 1.58. Fortune Brands Innovations, Inc. has a 1-year low of $54.10 and a 1-year high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Tuesday, April 30th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Fortune Brands Innovations’s revenue for the quarter was up 6.7% on a year-over-year basis. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 24th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. Fortune Brands Innovations’s dividend payout ratio is presently 29.36%.

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.