Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC decreased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,360 shares of the company’s stock after selling 3,016 shares during the quarter. Geneva Capital Management LLC owned about 0.07% of Fortune Brands Innovations worth $6,499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tobam raised its position in Fortune Brands Innovations by 1,181.5% during the 4th quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after buying an additional 319 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Fortune Brands Innovations in the fourth quarter valued at $27,000. Operose Advisors LLC acquired a new stake in Fortune Brands Innovations during the 3rd quarter worth about $31,000. Cullen Frost Bankers Inc. raised its stake in shares of Fortune Brands Innovations by 7,122.2% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 650 shares of the company’s stock valued at $40,000 after buying an additional 641 shares during the last quarter. Finally, Addison Advisors LLC lifted its holdings in shares of Fortune Brands Innovations by 38.7% in the 4th quarter. Addison Advisors LLC now owns 563 shares of the company’s stock valued at $43,000 after buying an additional 157 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 0.3 %

FBIN traded up $0.24 on Friday, hitting $75.34. The company had a trading volume of 85,391 shares, compared to its average volume of 1,068,604. The company has a current ratio of 2.04, a quick ratio of 1.08 and a debt-to-equity ratio of 1.33. The firm has a market cap of $9.42 billion, a P/E ratio of 22.97, a PEG ratio of 2.02 and a beta of 1.58. The company’s fifty day moving average price is $78.43 and its 200 day moving average price is $74.72. Fortune Brands Innovations, Inc. has a 1 year low of $54.10 and a 1 year high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.08 billion. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 EPS. As a group, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, May 23rd. Fortune Brands Innovations’s dividend payout ratio is currently 29.36%.

Insiders Place Their Bets

In other news, Director Ronald V. Waters sold 2,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the sale, the director now directly owns 2,435 shares in the company, valued at $197,478.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Oppenheimer began coverage on Fortune Brands Innovations in a research report on Friday, January 19th. They set a “market perform” rating for the company. Barclays increased their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Robert W. Baird raised their target price on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI reduced their price target on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, May 1st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.22.

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.