Valley National Advisers Inc. Decreases Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Valley National Advisers Inc. lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 16.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,364 shares of the company’s stock after selling 472 shares during the period. Valley National Advisers Inc.’s holdings in Fortune Brands Innovations were worth $161,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of Fortune Brands Innovations during the third quarter worth about $25,000. Raleigh Capital Management Inc. grew its stake in Fortune Brands Innovations by 31.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock worth $80,000 after buying an additional 216 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Fortune Brands Innovations during the third quarter worth approximately $81,000. Blue Trust Inc. lifted its stake in Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after buying an additional 219 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Fortune Brands Innovations by 11.2% in the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 2.2 %

Shares of FBIN opened at $71.67 on Monday. Fortune Brands Innovations, Inc. has a twelve month low of $62.54 and a twelve month high of $90.54. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $8.90 billion, a P/E ratio of 20.19, a PEG ratio of 2.14 and a beta of 1.49. The firm’s 50-day moving average is $73.29 and its two-hundred day moving average is $78.21.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. Fortune Brands Innovations’s revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 earnings per share. On average, research analysts predict that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FBIN. Jefferies Financial Group lifted their target price on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird decreased their target price 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. The Goldman Sachs Group dropped their price target on 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. UBS Group decreased their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Evercore ISI dropped their target price 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. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $89.36.

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.