Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Burns Matteson Capital Management LLC

Burns Matteson Capital Management LLC lowered its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,203 shares of the company’s stock after selling 167 shares during the period. Burns Matteson Capital Management LLC’s holdings in Fortune Brands Innovations were worth $356,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of 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 holdings in Fortune Brands Innovations by 1.9% in the fourth quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock valued at $132,335,000 after acquiring an additional 35,289 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Fortune Brands Innovations by 11.7% during 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 valued at $111,650,000 after acquiring an additional 130,170 shares during the period. Ninety One UK Ltd increased its stake in Fortune Brands Innovations by 6.6% during the fourth quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company’s stock worth $82,398,000 after acquiring an additional 74,369 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Fortune Brands Innovations by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,111 shares of the company’s stock worth $76,379,000 after purchasing an additional 4,248 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group decreased their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada dropped their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday. The Goldman Sachs Group decreased their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Robert W. Baird dropped their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Six equities 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.64.

Fortune Brands Innovations Stock Down 1.2 %

Shares of Fortune Brands Innovations stock opened at $68.20 on Monday. 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 business has a 50-day moving average price of $72.32 and a 200 day moving average price of $78.12. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The firm has a market cap of $8.47 billion, a P/E ratio of 18.19, a P/E/G ratio of 2.01 and a beta of 1.50.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.25%. On average, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.53 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business 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 an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.47%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 25.60%.

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.