Sumitomo Mitsui Trust Group Inc. Sells 5,185 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Sumitomo Mitsui Trust Group Inc. reduced its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,722 shares of the company’s stock after selling 5,185 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Fortune Brands Innovations worth $17,200,000 as of its most recent SEC filing.

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

Insider Transactions at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by insiders.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $68.93 on Thursday. 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 $8.56 billion, a P/E ratio of 18.38, a P/E/G ratio of 2.01 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 $71.73 and a two-hundred day moving average price of $77.97.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.25%. Analysts anticipate that Fortune Brands Innovations, Inc. will post 4.53 earnings per share for the current 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, February 21st. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio is 25.60%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FBIN shares. Barclays lowered their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group lowered their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada lowered their price objective on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. 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. Finally, Truist Financial lifted their target price on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.64.

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.