Nuveen Asset Management LLC Sells 53,527 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Nuveen Asset Management LLC lowered its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 18.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239,193 shares of the company's stock after selling 53,527 shares during the quarter. Nuveen Asset Management LLC owned about 0.19% of Fortune Brands Innovations worth $16,344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter worth approximately $55,000. IFP Advisors Inc raised its position in shares of Fortune Brands Innovations by 47.6% during the 4th quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after purchasing an additional 275 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter worth approximately $82,000. Finally, Blue Trust Inc. raised its position 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 period. Institutional investors and hedge funds own 87.60% of the company's stock.

Analyst Ratings Changes

FBIN has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on 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. Robert W. Baird decreased their price objective on 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 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. UBS Group decreased their price objective on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Truist Financial set a $65.00 price objective on Fortune Brands Innovations in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Fortune Brands Innovations has an average rating of "Hold" and an average price target of $77.17.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Kristin Papesh purchased 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares of the company's stock, valued at $472,177.83. This trade represents a 6.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock traded down $1.64 during mid-day trading on Wednesday, hitting $49.94. The company's stock had a trading volume of 5,099,571 shares, compared to its average volume of 1,518,723. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $6.01 billion, a P/E ratio of 13.32, a P/E/G ratio of 2.00 and a beta of 1.49. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $90.54. The stock's fifty day moving average price is $54.23 and its two-hundred day moving average price is $64.98.

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 business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The company's revenue was down 6.9% compared to the same quarter last year. During the same period last year, the company posted $0.83 EPS. Research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations's dividend payout ratio is presently 29.33%.

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.