Rhumbline Advisers Lowers Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Rhumbline Advisers decreased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 354,209 shares of the company's stock after selling 7,747 shares during the period. Rhumbline Advisers owned approximately 0.29% of Fortune Brands Innovations worth $21,564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FBIN. Fifth Third Wealth Advisors LLC boosted its stake in shares of Fortune Brands Innovations by 10.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,278 shares of the company's stock worth $260,000 after acquiring an additional 408 shares in the last quarter. GAMMA Investing LLC raised its holdings in Fortune Brands Innovations by 6,418.5% during the first 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. Versant Capital Management Inc boosted its position in Fortune Brands Innovations by 92.4% during the first quarter. Versant Capital Management Inc now owns 2,170 shares of the company's stock worth $132,000 after purchasing an additional 1,042 shares in the last quarter. Chancellor Financial Group WB LP acquired a new stake in Fortune Brands Innovations in the fourth quarter valued at $495,000. Finally, California State Teachers Retirement System grew its holdings in Fortune Brands Innovations by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 179,401 shares of the company's stock valued at $12,258,000 after purchasing an additional 1,177 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Trading Up 1.5%

Shares of NYSE:FBIN traded up $0.76 during midday trading on Tuesday, reaching $52.80. The company's stock had a trading volume of 2,857,297 shares, compared to its average volume of 1,590,910. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 2.00 and a beta of 1.38. The business has a 50 day moving average price of $52.15 and a 200 day moving average price of $63.29. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $90.54. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the business earned $0.83 EPS. The firm's revenue was down 6.9% on a year-over-year basis. Research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, May 27th. Fortune Brands Innovations's dividend payout ratio (DPR) is 29.33%.

Analyst Upgrades and Downgrades

FBIN has been the topic of several recent research reports. Robert W. Baird decreased their price objective on shares of 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. Barclays lowered 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. UBS Group dropped 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 research note on Wednesday, May 7th. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Royal Bank of Canada dropped their price target on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently 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.