Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 136.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,990 shares of the company's stock after acquiring an additional 46,681 shares during the quarter. Quantinno Capital Management LP owned 0.07% of Fortune Brands Innovations worth $5,534,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Flagship Wealth Advisors LLC purchased a new position in Fortune Brands Innovations in the 4th quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. acquired a new position in Fortune Brands Innovations in the 4th quarter valued at about $55,000. IFP Advisors Inc raised its stake in Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after purchasing an additional 275 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in Fortune Brands Innovations in the 4th quarter valued at about $82,000. Finally, Blue Trust Inc. boosted its stake in shares of Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after purchasing an additional 219 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FBIN shares. Robert W. Baird reduced their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price target for the company. Royal Bank of Canada decreased their price objective on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 7th. UBS Group dropped their target price on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research report on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Fortune Brands Innovations presently has an average rating of "Hold" and an average target price of $77.17.

Fortune Brands Innovations Trading Down 5.3%

FBIN stock traded down $2.88 during trading on Wednesday, reaching $51.05. 1,411,993 shares of the stock traded hands, compared to its average volume of 1,485,587. The firm has a market capitalization of $6.14 billion, a PE ratio of 13.61, a P/E/G ratio of 2.00 and a beta of 1.49. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The business's 50 day moving average price is $55.47 and its 200-day moving average price is $66.08. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $0.83 EPS. The company's revenue was down 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.96%. Fortune Brands Innovations's dividend payout ratio is currently 29.33%.

Insiders Place Their Bets

In related news, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the purchase, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

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.