Nisa Investment Advisors LLC Cuts Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Nisa Investment Advisors LLC lowered its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 12.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of FBIN. Man Group plc acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter worth about $344,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Fortune Brands Innovations by 8.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 271,928 shares of the company's stock worth $16,555,000 after purchasing an additional 20,206 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Fortune Brands Innovations by 15.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,537 shares of the company's stock worth $763,000 after purchasing an additional 1,660 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Fortune Brands Innovations by 6,418.5% during the 1st quarter. GAMMA Investing LLC now owns 109,706 shares of the company's stock worth $6,679,000 after purchasing an additional 108,023 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter worth about $1,442,000. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Trading Down 1.6%

FBIN opened at $53.98 on Monday. The firm has a market capitalization of $6.49 billion, a P/E ratio of 15.83, a P/E/G ratio of 2.98 and a beta of 1.36. The firm's 50 day moving average is $52.08 and its 200-day moving average is $59.43. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.54. The company has a quick ratio of 0.72, a current ratio of 1.41 and a debt-to-equity ratio of 1.06.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.66. The business had revenue of $1.03 billion during 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%. The business's revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 29.33%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th. Royal Bank Of Canada decreased their target price on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 price target on the stock. Wall Street Zen raised shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Barclays reduced their price target on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $77.00.

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.

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