Gamco Investors INC. ET AL Decreases Position in Fortune Brands Innovations, Inc. $FBIN

Gamco Investors INC. ET AL trimmed its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 12.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 160,743 shares of the company’s stock after selling 21,859 shares during the period. Gamco Investors INC. ET AL’s holdings in Fortune Brands Innovations were worth $6,264,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Danske Bank A S purchased a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its position in shares of Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after buying an additional 323 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in Fortune Brands Innovations by 1,275.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock valued at $28,000 after purchasing an additional 510 shares during the period. V Square Quantitative Management LLC purchased a new position in Fortune Brands Innovations during the fourth quarter valued at approximately $28,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Fortune Brands Innovations in the 3rd quarter worth $31,000. Institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on FBIN. Barclays boosted their price objective on shares of Fortune Brands Innovations from $41.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. BMO Capital Markets decreased their target price on Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 20th. UBS Group decreased their target price on shares of Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Truist Financial upgraded Fortune Brands Innovations from a “hold” rating to a “buy” rating and upped their price objective for the stock from $45.00 to $70.00 in a research report on Tuesday, June 30th. Finally, The Goldman Sachs Group increased their target price on shares of Fortune Brands Innovations from $50.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $54.38.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Edward P. Garden bought 403,000 shares of the stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $33.40 per share, for a total transaction of $13,460,200.00. Following the completion of the transaction, the director owned 3,556,867 shares in the company, valued at approximately $118,799,357.80. The trade was a 12.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 786,367 shares of company stock valued at $28,653,958 in the last three months. Corporate insiders own 3.32% of the company’s stock.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $51.26 on Monday. The firm has a 50 day simple moving average of $44.58 and a 200-day simple moving average of $46.66. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 3.31 and a beta of 1.30. Fortune Brands Innovations, Inc. has a 1-year low of $32.34 and a 1-year high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business posted $0.66 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, analysts expect that Fortune Brands Innovations, Inc. will post 3.14 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Friday, August 21st will be issued a $0.26 dividend. The ex-dividend date is Friday, August 21st. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Fortune Brands Innovations’s dividend payout ratio is presently 46.22%.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.