Mutual of America Capital Management LLC Sells 3,518 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Mutual of America Capital Management LLC trimmed its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,614 shares of the company’s stock after selling 3,518 shares during the period. Mutual of America Capital Management LLC owned 0.06% of Fortune Brands Innovations worth $4,651,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in FBIN. Principal Securities Inc. acquired a new position in Fortune Brands Innovations during the fourth quarter valued at approximately $29,000. Family Firm Inc. bought a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth $31,000. LRI Investments LLC acquired a new position in Fortune Brands Innovations in the 1st quarter valued at $34,000. Brown Brothers Harriman & Co. raised its holdings in Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after acquiring an additional 437 shares during the period. Finally, Rise Advisors LLC bought a new position in Fortune Brands Innovations in the 1st quarter worth $38,000. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN opened at $86.57 on Friday. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $88.11. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. The business has a fifty day simple moving average of $77.48 and a 200 day simple moving average of $74.72. The firm has a market capitalization of $10.83 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 2.50 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the company posted $1.07 EPS. The business’s revenue was up 6.6% on a year-over-year basis. Sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Friday, August 23rd. Fortune Brands Innovations’s payout ratio is 29.36%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FBIN shares. Loop Capital lowered their price target on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada raised their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Truist Financial upped their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Barclays boosted their target price on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.20.

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.