Simon Quick Advisors LLC Trims Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Simon Quick Advisors LLC lowered its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,755 shares of the company’s stock after selling 260 shares during the period. Simon Quick Advisors LLC’s holdings in Fortune Brands Innovations were worth $667,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Fortune Brands Innovations during the third quarter valued at approximately $25,000. Raleigh Capital Management Inc. grew its stake in shares of Fortune Brands Innovations by 31.7% during the third 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 bought a new stake in shares of Fortune Brands Innovations in the 3rd quarter valued at about $81,000. Quarry LP increased its stake in Fortune Brands Innovations by 3,069.0% in the 2nd quarter. Quarry LP now owns 919 shares of the company’s stock worth $60,000 after purchasing an additional 890 shares during the period. Finally, Blue Trust Inc. lifted its position in Fortune Brands Innovations by 35.4% in the third quarter. Blue Trust Inc. now owns 1,217 shares of the company’s stock valued at $109,000 after purchasing an additional 318 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $73.13 on Thursday. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.21 and a beta of 1.49. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The company’s 50-day moving average is $73.57 and its 200 day moving average is $77.95.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.19 earnings per share. Sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently disclosed 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 represents a $1.00 annualized dividend and a yield of 1.37%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 27.04%.

Wall Street Analyst Weigh In

FBIN has been the topic of several analyst reports. UBS Group decreased their target price on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. The Goldman Sachs Group decreased 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 report on Tuesday, January 14th. BMO Capital Markets raised their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Evercore ISI reduced their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Finally, Barclays dropped their price objective on Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. 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 an average price target of $89.36.

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.