Hunter Associates Investment Management LLC Cuts Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Hunter Associates Investment Management LLC lowered its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,279 shares of the company’s stock after selling 420 shares during the period. Hunter Associates Investment Management LLC’s holdings in Fortune Brands Innovations were worth $429,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FBIN. FMR LLC raised its stake in shares of Fortune Brands Innovations by 104.5% in the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after acquiring an additional 3,024,950 shares during the period. Nordea Investment Management AB raised its stake in shares of Fortune Brands Innovations by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock valued at $132,335,000 after acquiring an additional 35,289 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Fortune Brands Innovations by 11.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock valued at $111,650,000 after acquiring an additional 130,170 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Fortune Brands Innovations by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,111 shares of the company’s stock valued at $76,379,000 after acquiring an additional 4,248 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Fortune Brands Innovations by 5.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 381,827 shares of the company’s stock valued at $34,185,000 after acquiring an additional 21,362 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

FBIN opened at $71.67 on Friday. The company has a 50-day moving average of $73.29 and a 200-day moving average of $78.15. The company 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. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results 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 the consensus estimate of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The company’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.19 EPS. Equities analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, February 21st. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio is currently 28.17%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FBIN shares. Jefferies Financial Group raised their target price on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI cut their target price on shares of 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. BMO Capital Markets lifted their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group dropped their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Truist Financial lifted their price target on shares of 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 analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.