Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by North Growth Management Ltd.

North Growth Management Ltd. lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 113,000 shares of the company’s stock after selling 2,000 shares during the period. North Growth Management Ltd. owned 0.09% of Fortune Brands Innovations worth $7,712,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FBIN. Cetera Investment Advisers increased its position in shares of Fortune Brands Innovations by 6.9% during the second quarter. Cetera Investment Advisers now owns 15,844 shares of the company’s stock worth $1,029,000 after purchasing an additional 1,022 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Fortune Brands Innovations during the second quarter worth approximately $433,000. GAMMA Investing LLC lifted its stake in Fortune Brands Innovations by 55.8% in the third quarter. GAMMA Investing LLC now owns 1,737 shares of the company’s stock valued at $156,000 after buying an additional 622 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of Fortune Brands Innovations in the third quarter valued at approximately $236,000. Finally, CWM LLC grew its position in shares of Fortune Brands Innovations by 8.3% during the third quarter. CWM LLC now owns 2,199 shares of the company’s stock worth $197,000 after acquiring an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FBIN. UBS Group decreased their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Friday. Robert W. Baird lowered their price target on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. BMO Capital Markets boosted their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada decreased their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday. Finally, Evercore ISI dropped their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $86.64.

Fortune Brands Innovations Price Performance

FBIN stock opened at $68.20 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The stock’s 50 day moving average price is $72.32 and its 200 day moving average price is $78.06. The firm has a market cap of $8.47 billion, a P/E ratio of 18.19, a PEG ratio of 2.01 and a beta of 1.50. Fortune Brands Innovations, Inc. has a 1 year low of $62.54 and a 1 year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.25%. On average, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.53 earnings per share 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. Stockholders of record on Friday, February 21st will be given a $0.25 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.47%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s payout ratio is currently 25.60%.

Fortune Brands Innovations Company 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.