Fortune Brands Innovations, Inc. (NYSE:FBIN) Holdings Decreased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,162 shares of the company's stock after selling 6,066 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Fortune Brands Innovations were worth $3,086,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FBIN. Janney Montgomery Scott LLC lifted its position in Fortune Brands Innovations by 3.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,663 shares of the company's stock worth $729,000 after buying an additional 320 shares during the period. Blue Trust Inc. lifted its position in Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after buying an additional 219 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in Fortune Brands Innovations by 1.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company's stock worth $556,000 after buying an additional 138 shares during the period. Trust Point Inc. purchased a new position in Fortune Brands Innovations during the fourth quarter worth about $319,000. Finally, Ninety One UK Ltd lifted its position in Fortune Brands Innovations by 6.6% during the fourth quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company's stock worth $82,398,000 after buying an additional 74,369 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

Shares of FBIN traded up $0.50 during midday trading on Wednesday, reaching $51.07. The stock had a trading volume of 1,178,230 shares, compared to its average volume of 1,574,651. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. 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 firm's 50 day moving average price is $52.78 and its 200-day moving average price is $64.01. The company has a market capitalization of $6.14 billion, a P/E ratio of 13.62, a P/E/G ratio of 2.00 and a beta of 1.49.

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

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations's payout ratio is 29.33%.

Analysts Set New Price Targets

FBIN has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a "hold" rating and a $70.00 target price for the company. UBS Group lowered their price objective 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. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research report on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fortune Brands Innovations has an average rating of "Hold" and an average price target of $77.17.

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.