OMERS ADMINISTRATION Corp Sells 10,027 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

OMERS ADMINISTRATION Corp cut its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 32.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,353 shares of the company’s stock after selling 10,027 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Fortune Brands Innovations were worth $1,459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Fortune Brands Innovations during the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations during the fourth quarter worth $55,000. IFP Advisors Inc increased its holdings in shares of Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after buying an additional 275 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Fortune Brands Innovations during the fourth quarter worth $82,000. Finally, Blue Trust Inc. increased its holdings in shares of Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after buying an additional 219 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Performance

FBIN stock opened at $54.65 on Friday. The stock has a 50-day moving average price of $55.84 and a 200-day moving average price of $66.81. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The firm has a market cap of $6.57 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.00 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company posted $0.83 EPS. The business’s quarterly revenue was down 6.9% on a year-over-year basis. As a group, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, May 27th. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.33%.

Wall Street Analysts Forecast Growth

FBIN has been the subject of several research analyst reports. Royal Bank of Canada lowered their price target on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating for the company in a report on Wednesday, May 7th. UBS Group lowered their price target on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Robert W. Baird lowered their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Truist Financial set a $65.00 price target on shares of Fortune Brands Innovations in a report on Wednesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and an average price target of $77.17.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the purchase, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. This represents a 6.77% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.