Fortune Brands Innovations, Inc. (NYSE:FBIN) Stake Reduced by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC reduced its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 61,383 shares of the company’s stock after selling 922 shares during the period. Baker Ellis Asset Management LLC’s holdings in Fortune Brands Innovations were worth $4,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB grew its stake in shares of Fortune Brands Innovations by 50.2% in the third quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company’s stock worth $3,053,000 after purchasing an additional 11,400 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Fortune Brands Innovations by 30.7% during the second quarter. Envestnet Asset Management Inc. now owns 36,582 shares of the company’s stock valued at $2,376,000 after buying an additional 8,590 shares in the last quarter. Nordea Investment Management AB boosted its stake in Fortune Brands Innovations by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock valued at $132,335,000 after buying an additional 35,289 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Fortune Brands Innovations by 12,402.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock valued at $21,921,000 after buying an additional 334,865 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Fortune Brands Innovations during the third quarter valued at about $208,000. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Down 1.7 %

FBIN opened at $73.13 on Thursday. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The business has a 50-day moving average of $73.57 and a 200-day moving average of $77.95. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The company has a market capitalization of $9.08 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 2.21 and a beta of 1.49.

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

Fortune Brands Innovations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, February 21st. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FBIN. Robert W. Baird reduced their target price on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group reduced their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Evercore ISI reduced their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group upped their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Truist Financial increased their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Six research 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 has a consensus rating of “Hold” and an average price target of $89.36.

Fortune Brands Innovations 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.