Nisa Investment Advisors LLC Sells 5,050 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Nisa Investment Advisors LLC reduced its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,165 shares of the company's stock after selling 5,050 shares during the quarter. Nisa Investment Advisors LLC's holdings in Fortune Brands Innovations were worth $2,080,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FBIN. Norges Bank acquired a new stake in Fortune Brands Innovations during the 4th quarter valued at $101,122,000. Wellington Management Group LLP increased its stake in shares of Fortune Brands Innovations by 63.0% in the fourth quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company's stock worth $196,153,000 after acquiring an additional 1,110,021 shares during the last quarter. Clearbridge Investments LLC acquired a new position in shares of Fortune Brands Innovations in the fourth quarter worth $59,970,000. Balyasny Asset Management L.P. increased its stake in shares of Fortune Brands Innovations by 1,530.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 775,093 shares of the company's stock worth $52,962,000 after acquiring an additional 727,550 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Fortune Brands Innovations in the fourth quarter worth $40,027,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Up 2.5%

NYSE:FBIN traded up $1.32 on Thursday, hitting $53.94. 1,396,714 shares of the company's stock were exchanged, compared to its average volume of 1,627,308. The firm has a 50-day moving average price of $52.23 and a 200-day moving average price of $59.13. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.41 and a quick ratio of 0.72. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The company has a market cap of $6.49 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 2.90 and a beta of 1.36.

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, hitting the consensus estimate of $0.66. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. Fortune Brands Innovations had a net margin of 9.42% and a return on equity of 20.96%. Fortune Brands Innovations's revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 EPS. As a group, analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. Fortune Brands Innovations's dividend payout ratio is currently 29.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FBIN. Barclays upped their price objective on shares of Fortune Brands Innovations from $64.00 to $67.00 and gave the stock an "overweight" rating in a report on Tuesday. Robert W. Baird decreased their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Royal Bank Of Canada decreased their price objective on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price objective for the company. Finally, UBS Group decreased their price objective on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $77.27.

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.