Central Pacific Bank Trust Division Sells 1,500 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Central Pacific Bank Trust Division cut its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 24.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,550 shares of the company’s stock after selling 1,500 shares during the period. Central Pacific Bank Trust Division’s holdings in Fortune Brands Innovations were worth $311,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FBIN. Brooklyn Investment Group bought a new stake in shares of Fortune Brands Innovations during the third quarter valued at approximately $25,000. Brown Brothers Harriman & Co. increased 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 valued at $34,000 after buying an additional 437 shares during the period. Quarry LP raised its stake in shares of Fortune Brands Innovations by 3,069.0% in the 2nd quarter. Quarry LP now owns 919 shares of the company’s stock valued at $60,000 after buying an additional 890 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Fortune Brands Innovations by 31.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock worth $80,000 after acquiring an additional 216 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at about $81,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Trading Up 0.9 %

Shares of NYSE FBIN opened at $68.23 on Friday. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The company has a 50-day moving average of $76.18 and a two-hundred day moving average of $77.33. The company has a market cap of $8.48 billion, a PE ratio of 19.22, a P/E/G ratio of 2.51 and a beta of 1.47.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. The firm 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%. Fortune Brands Innovations’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 EPS. As a group, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, February 21st. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio is 28.17%.

Analyst Ratings Changes

FBIN has been the subject of a number of analyst reports. Robert W. Baird cut their price target on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group boosted their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI lowered their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. BMO Capital Markets lifted their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, Barclays upped their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $91.36.

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.