Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 10.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,482 shares of the company’s stock after selling 9,486 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Fortune Brands Innovations were worth $5,127,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FBIN. BlackRock Inc. acquired a new stake in Fortune Brands Innovations in the second quarter valued at about $1,052,123,000. JPMorgan Chase & Co. acquired a new stake in Fortune Brands Innovations in the second quarter valued at about $392,938,000. State Street Corp acquired a new stake in Fortune Brands Innovations in the second quarter valued at about $365,010,000. Holocene Advisors LP acquired a new stake in Fortune Brands Innovations in the second quarter valued at about $193,486,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter valued at approximately $142,667,000. Hedge funds and other institutional investors own 87.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FBIN shares. Barclays lifted their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. The Goldman Sachs Group lifted their price target on shares of Fortune Brands Innovations from $68.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. Royal Bank of Canada reduced their price target on shares of Fortune Brands Innovations from $74.00 to $63.00 and set a “sector perform” rating for the company in a research report on Thursday, October 26th. BMO Capital Markets reiterated a “market perform” rating and set a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Finally, Oppenheimer assumed coverage on shares of Fortune Brands Innovations in a research report on Friday, January 19th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and an average target price of $74.33.

Read Our Latest Research Report on Fortune Brands Innovations

Fortune Brands Innovations Stock Up 0.0 %

FBIN stock opened at $80.13 on Monday. The stock has a market capitalization of $10.10 billion, a P/E ratio of 25.28, a PEG ratio of 1.72 and a beta of 1.58. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.91 and a current ratio of 1.72. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $80.91. The company has a 50 day moving average price of $76.89 and a two-hundred day moving average price of $68.92.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last released its earnings results on Tuesday, January 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.93 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. Fortune Brands Innovations’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.07 EPS. As a group, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Friday, February 23rd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.20%. Fortune Brands Innovations’s payout ratio is currently 29.02%.

Fortune Brands Innovations Profile

(Free Report)

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 two segments: Water Innovations; and Outdoors & Security. The Water Innovations segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, and Shaws brands.

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Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

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