abrdn plc Has $32.74 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

abrdn plc decreased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 479,369 shares of the company’s stock after selling 21,108 shares during the quarter. abrdn plc owned about 0.39% of Fortune Brands Innovations worth $32,741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in Fortune Brands Innovations in the 3rd quarter valued at $25,000. Raleigh Capital Management Inc. grew its position in Fortune Brands Innovations by 31.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after purchasing an additional 216 shares during the period. Darwin Wealth Management LLC acquired a new stake in Fortune Brands Innovations in the 3rd quarter valued at $81,000. Blue Trust Inc. grew its position in Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after purchasing an additional 219 shares during the period. Finally, UMB Bank n.a. grew its position in Fortune Brands Innovations by 11.2% in the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 0.4 %

NYSE FBIN opened at $69.29 on Thursday. The business’s fifty day moving average is $72.70 and its 200-day moving average is $78.10. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.09 and a beta of 1.50. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69.

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

Fortune Brands Innovations Increases Dividend

The business 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 represents a $1.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, February 21st. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s payout ratio is presently 27.04%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FBIN. Barclays reduced their price target on shares of Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Evercore ISI dropped their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Robert W. Baird dropped their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. UBS Group dropped their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, BMO Capital Markets raised their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus 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.