Caprock Group LLC Sells 1,225 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Caprock Group LLC cut its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 26.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,483 shares of the company’s stock after selling 1,225 shares during the quarter. Caprock Group LLC’s holdings in Fortune Brands Innovations were worth $238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FBIN. Brooklyn Investment Group acquired a new stake in Fortune Brands Innovations in the third quarter valued at $25,000. Raleigh Capital Management Inc. boosted its holdings in Fortune Brands Innovations by 31.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after purchasing an additional 216 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of Fortune Brands Innovations in the third quarter valued at approximately $81,000. Blue Trust Inc. grew its holdings in shares of Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after purchasing an additional 219 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Fortune Brands Innovations by 11.2% during the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after buying an additional 170 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FBIN shares. Truist Financial lifted their price target 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. The Goldman Sachs Group dropped their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. BMO Capital Markets lifted their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Evercore ISI decreased their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Finally, Barclays lowered their price objective on shares of Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.36.

Fortune Brands Innovations Trading Down 0.5 %

NYSE:FBIN opened at $68.99 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The firm has a 50-day moving average of $72.52 and a 200-day moving average of $78.03. The company has a market cap of $8.57 billion, a PE ratio of 19.43, a PEG ratio of 2.09 and a beta of 1.50. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. As a group, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s payout ratio is presently 27.04%.

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.