Rhumbline Advisers Cuts Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Rhumbline Advisers decreased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 354,209 shares of the company's stock after selling 7,747 shares during the quarter. Rhumbline Advisers owned about 0.29% of Fortune Brands Innovations worth $21,564,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Atria Wealth Solutions Inc. increased its holdings in shares of Fortune Brands Innovations by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock worth $222,000 after buying an additional 156 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Fortune Brands Innovations by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,810 shares of the company's stock worth $260,000 after acquiring an additional 201 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Fortune Brands Innovations by 0.6% in the 4th quarter. Arizona State Retirement System now owns 36,048 shares of the company's stock worth $2,463,000 after acquiring an additional 213 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after acquiring an additional 219 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Fortune Brands Innovations by 0.4% in the 4th quarter. Schroder Investment Management Group now owns 57,629 shares of the company's stock worth $3,936,000 after acquiring an additional 238 shares during the last quarter. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Up 0.3%

Shares of NYSE:FBIN traded up $0.15 during trading on Friday, reaching $51.24. The stock had a trading volume of 1,336,243 shares, compared to its average volume of 1,579,519. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54. The company has a market capitalization of $6.16 billion, a P/E ratio of 13.66, a PEG ratio of 2.00 and a beta of 1.38. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The firm's 50-day simple moving average is $52.39 and its 200 day simple moving average is $63.69.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter last year, the company posted $0.83 earnings per share. The firm's revenue was down 6.9% compared to the same quarter last year. As a group, research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.95%. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 29.33%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FBIN. Robert W. Baird reduced their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price target on the stock. Royal Bank of Canada cut 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. Barclays cut their target price 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. Finally, 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. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $77.17.

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.