Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Caprock Group LLC

Caprock Group LLC reduced its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 26.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FMR LLC increased its stake in Fortune Brands Innovations by 104.5% during the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after buying an additional 3,024,950 shares during the period. Nordea Investment Management AB boosted its stake in Fortune Brands Innovations by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after purchasing an additional 35,289 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Fortune Brands Innovations by 11.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock worth $111,650,000 after buying an additional 130,170 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Fortune Brands Innovations by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,111 shares of the company’s stock valued at $76,379,000 after acquiring an additional 4,248 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Fortune Brands Innovations by 5.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 381,827 shares of the company’s stock valued at $34,185,000 after purchasing an additional 21,362 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Analysts Set New Price Targets

FBIN has been the topic of several research reports. Barclays dropped their target price on Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. BMO Capital Markets lifted their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group decreased 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 report on Tuesday, January 14th. Truist Financial boosted their target price on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, UBS Group cut their price target on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and an average target price of $89.36.

Fortune Brands Innovations Trading Down 0.5 %

Shares of FBIN stock opened at $68.99 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $8.57 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.09 and a beta of 1.50. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54. The firm has a 50-day moving average price of $72.52 and a 200 day moving average price of $78.03.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. Research analysts forecast 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. Investors of record on Friday, February 21st will be issued a $0.25 dividend. 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. This represents a $1.00 annualized dividend and a yield of 1.45%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 27.04%.

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.