Mutual of America Capital Management LLC Sells 1,454 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Mutual of America Capital Management LLC lessened its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,621 shares of the company’s stock after selling 1,454 shares during the period. Mutual of America Capital Management LLC’s holdings in Fortune Brands Innovations were worth $4,484,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FBIN. Proficio Capital Partners LLC bought a new stake in shares of Fortune Brands Innovations in the 4th quarter worth approximately $3,957,000. Impax Asset Management Group plc raised its stake in shares of Fortune Brands Innovations by 32.7% in the fourth quarter. Impax Asset Management Group plc now owns 17,780 shares of the company’s stock valued at $1,215,000 after purchasing an additional 4,380 shares in the last quarter. IFP Advisors Inc lifted its position in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after purchasing an additional 275 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Fortune Brands Innovations during the fourth quarter worth $1,065,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in Fortune Brands Innovations during the fourth quarter worth $2,385,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Trading Down 2.9 %

FBIN stock opened at $61.25 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a twelve month low of $60.81 and a twelve month high of $90.54. The company has a market cap of $7.51 billion, a P/E ratio of 16.33, a PEG ratio of 2.00 and a beta of 1.50. The business has a fifty day moving average of $69.39 and a 200-day moving average of $77.00.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. As a group, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current 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 is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is currently 26.67%.

Insider Buying and Selling at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the transaction, the executive vice president now owns 10,066 shares of the company’s stock, valued at $693,950.04. This represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

FBIN has been the subject of a number of recent research reports. Robert W. Baird dropped their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Evercore ISI dropped their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. UBS Group decreased their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Royal Bank of Canada dropped their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Finally, Barclays cut their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $86.64.

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.