Robeco Schweiz AG Sells 18,304 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Robeco Schweiz AG lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 651,089 shares of the company's stock after selling 18,304 shares during the quarter. Robeco Schweiz AG owned approximately 0.54% of Fortune Brands Innovations worth $39,638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC grew its holdings in Fortune Brands Innovations by 0.4% during the first quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company's stock valued at $3,750,000 after purchasing an additional 219 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in Fortune Brands Innovations by 28.2% during the first quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock valued at $62,000 after purchasing an additional 224 shares during the last quarter. Schroder Investment Management Group grew its holdings in Fortune Brands Innovations by 0.4% during the fourth quarter. Schroder Investment Management Group now owns 57,629 shares of the company's stock valued at $3,936,000 after purchasing an additional 238 shares during the last quarter. Fifth Third Bancorp grew its holdings in Fortune Brands Innovations by 15.4% during the first quarter. Fifth Third Bancorp now owns 2,075 shares of the company's stock valued at $126,000 after purchasing an additional 277 shares during the last quarter. Finally, State of Michigan Retirement System grew its holdings in Fortune Brands Innovations by 0.9% during the first quarter. State of Michigan Retirement System now owns 32,842 shares of the company's stock valued at $1,999,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Performance

FBIN stock traded down $0.86 during midday trading on Friday, hitting $53.98. The stock had a trading volume of 1,354,088 shares, compared to its average volume of 1,634,666. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 3.03 and a beta of 1.36. The stock has a 50-day simple moving average of $52.08 and a 200 day simple moving average of $59.57. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The company has a current ratio of 1.41, a quick ratio of 0.72 and a debt-to-equity ratio of 1.06.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.66. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.07 billion. Fortune Brands Innovations had a return on equity of 20.96% and a net margin of 9.42%. The business's revenue was down 6.9% on a year-over-year basis. During the same period last year, the business earned $0.83 earnings per share. As a group, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th were issued 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 is 29.33%.

Wall Street Analyst Weigh In

Several equities analysts have commented on FBIN shares. Robert W. Baird lowered their price target on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Royal Bank Of Canada lowered their price objective on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began 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 objective on the stock. Barclays lowered their price objective on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, UBS Group lowered their price objective on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating on the stock in a research note 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. According to MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of "Hold" and an average target price 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.