Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,791,774 shares of the company's stock after selling 235,742 shares during the quarter. Vanguard Group Inc. owned about 9.73% of Fortune Brands Innovations worth $717,883,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FBIN. Dimensional Fund Advisors LP increased its stake in shares of Fortune Brands Innovations by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,924,181 shares of the company's stock worth $131,481,000 after acquiring an additional 40,138 shares in the last quarter. Ninety One UK Ltd boosted its holdings in shares of Fortune Brands Innovations by 9.9% in the first quarter. Ninety One UK Ltd now owns 1,325,821 shares of the company's stock worth $80,716,000 after buying an additional 119,937 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Fortune Brands Innovations by 35.5% in the fourth quarter. Northern Trust Corp now owns 1,295,703 shares of the company's stock worth $88,535,000 after buying an additional 339,314 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Fortune Brands Innovations by 1.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,262,178 shares of the company's stock worth $86,245,000 after buying an additional 15,109 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Fortune Brands Innovations by 27.3% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 955,820 shares of the company's stock worth $65,311,000 after buying an additional 204,926 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FBIN has been the topic of a number of research reports. Wall Street Zen raised shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a research note on Wednesday, May 7th. Loop Capital reiterated a "hold" rating and set a $61.00 price objective (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. UBS Group lifted their price objective on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $59.00 to $65.00 in a research report on Friday, August 1st. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Fortune Brands Innovations presently has an average rating of "Moderate Buy" and an average target price of $75.91.

Fortune Brands Innovations Trading Down 0.4%

NYSE FBIN traded down $0.24 on Friday, hitting $58.69. 1,546,872 shares of the stock were exchanged, compared to its average volume of 1,996,278. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 1.97. The stock has a fifty day moving average price of $53.90 and a two-hundred day moving average price of $56.83. The firm has a market capitalization of $7.05 billion, a P/E ratio of 18.46, a P/E/G ratio of 4.03 and a beta of 1.32. 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 Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.02. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. Research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be given a $0.25 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. Fortune Brands Innovations's dividend payout ratio is currently 31.45%.

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.