Fortune Brands Innovations, Inc. $FBIN Shares Sold by Fiduciary Management Inc. WI

Fiduciary Management Inc. WI lowered its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,127,508 shares of the company’s stock after selling 146,128 shares during the period. Fiduciary Management Inc. WI owned about 1.77% of Fortune Brands Innovations worth $106,418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in FBIN. Assetmark Inc. increased its holdings in Fortune Brands Innovations by 1.2% in the fourth quarter. Assetmark Inc. now owns 17,728 shares of the company’s stock valued at $887,000 after buying an additional 208 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in Fortune Brands Innovations by 3.0% in the fourth quarter. TD Private Client Wealth LLC now owns 7,308 shares of the company’s stock valued at $366,000 after buying an additional 213 shares in the last quarter. Fifth Third Bancorp increased its holdings in Fortune Brands Innovations by 11.3% in the third quarter. Fifth Third Bancorp now owns 2,166 shares of the company’s stock valued at $116,000 after buying an additional 220 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in Fortune Brands Innovations by 1.6% in the third quarter. Illinois Municipal Retirement Fund now owns 14,695 shares of the company’s stock valued at $785,000 after buying an additional 226 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Fortune Brands Innovations by 30.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,108 shares of the company’s stock valued at $57,000 after buying an additional 256 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Transactions at Fortune Brands Innovations

In other news, Director Edward P. Garden bought 403,000 shares of Fortune Brands Innovations stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $33.40 per share, with a total value of $13,460,200.00. Following the purchase, the director directly owned 3,556,867 shares of the company’s stock, valued at approximately $118,799,357.80. This trade represents a 12.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 466,300 shares of company stock worth $15,659,238. Insiders own 3.32% of the company’s stock.

Analysts Set New Price Targets

FBIN has been the subject of a number of recent research reports. Zelman & Associates cut shares of Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a research note on Friday, February 13th. BMO Capital Markets dropped their price objective on shares of Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, April 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Friday, May 29th. The Goldman Sachs Group decreased their target price on shares of Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Finally, Truist Financial decreased their target price on shares of Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of “Hold” and a consensus price target of $51.31.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $39.06 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 2.52 and a beta of 1.37. The firm’s fifty day simple moving average is $38.63 and its 200 day simple moving average is $47.33. Fortune Brands Innovations, Inc. has a twelve month low of $32.34 and a twelve month high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, equities research analysts expect that Fortune Brands Innovations, Inc. will post 3.13 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s payout ratio is presently 46.22%.

Fortune Brands Innovations Profile

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.