Shell Asset Management Co. Sells 12,940 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Shell Asset Management Co. lowered its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 40.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,668 shares of the company’s stock after selling 12,940 shares during the quarter. Shell Asset Management Co.’s holdings in Fortune Brands Innovations were worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Choreo LLC acquired a new stake in Fortune Brands Innovations in the fourth quarter worth about $422,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Fortune Brands Innovations by 24.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,137 shares of the company’s stock worth $4,607,000 after acquiring an additional 12,217 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in Fortune Brands Innovations by 383.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 39,596 shares of the company’s stock worth $3,015,000 after acquiring an additional 31,406 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Fortune Brands Innovations by 3.6% in the fourth quarter. Schroder Investment Management Group now owns 620,402 shares of the company’s stock worth $47,237,000 after acquiring an additional 21,517 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Fortune Brands Innovations by 9.0% in the fourth quarter. Allianz Asset Management GmbH now owns 841,545 shares of the company’s stock worth $64,075,000 after acquiring an additional 69,502 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Evercore ISI lowered 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. Robert W. Baird raised their price target on Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and a consensus target price of $79.22.

Get Our Latest Stock Report on Fortune Brands Innovations

Fortune Brands Innovations Stock Up 0.4 %

Shares of FBIN stock opened at $66.24 on Tuesday. The stock has a 50 day moving average of $73.38 and a 200 day moving average of $76.36. 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 stock has a market cap of $8.29 billion, a P/E ratio of 20.26, a P/E/G ratio of 1.82 and a beta of 1.57. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $84.92.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. Fortune Brands Innovations’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $0.69 earnings per share. As a group, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.31 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, May 23rd. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.36%.

About Fortune Brands Innovations

(Free Report)

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.

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Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

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