Mutual of America Capital Management LLC Decreases Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Mutual of America Capital Management LLC lessened its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 10.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 82,482 shares of the company’s stock after selling 9,486 shares during the period. Mutual of America Capital Management LLC owned 0.07% of Fortune Brands Innovations worth $5,127,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Intrepid Capital Management Inc. bought a new position in shares of Fortune Brands Innovations in the second quarter worth about $25,000. Bessemer Group Inc. bought a new position in shares of Fortune Brands Innovations in the second quarter worth about $26,000. Bray Capital Advisors bought a new position in shares of Fortune Brands Innovations in the second quarter worth about $27,000. Geneos Wealth Management Inc. bought a new position in shares of Fortune Brands Innovations in the second quarter worth about $27,000. Finally, IFP Advisors Inc bought a new position in shares of Fortune Brands Innovations in the second quarter worth about $28,000. Institutional investors own 87.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FBIN shares. Truist Financial dropped their price target on Fortune Brands Innovations from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. BMO Capital Markets reissued a “market perform” rating and set a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. The Goldman Sachs Group increased their price target on Fortune Brands Innovations from $68.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Oppenheimer started coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They set a “market perform” rating for the company. Finally, Royal Bank of Canada dropped their price target on Fortune Brands Innovations from $74.00 to $63.00 and set a “sector perform” rating for the company in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.33.

View Our Latest Research Report on FBIN

Fortune Brands Innovations Trading Up 0.0 %

Shares of NYSE FBIN opened at $80.13 on Monday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.91 and a current ratio of 1.72. The business’s 50 day moving average price is $76.89 and its 200-day moving average price is $68.92. Fortune Brands Innovations, Inc. has a fifty-two week low of $54.10 and a fifty-two week high of $80.91. The company has a market cap of $10.10 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 1.72 and a beta of 1.58.

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

Fortune Brands Innovations Increases Dividend

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

Fortune Brands Innovations Company 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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