UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 15,109 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,262,178 shares of the company's stock after acquiring an additional 15,109 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.02% of Fortune Brands Innovations worth $86,245,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. grew its position in Fortune Brands Innovations by 3.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 11,754 shares of the company's stock worth $803,000 after purchasing an additional 385 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of Fortune Brands Innovations by 26.1% in the fourth quarter. HB Wealth Management LLC now owns 3,973 shares of the company's stock valued at $271,000 after buying an additional 822 shares during the period. SG Americas Securities LLC grew its position in Fortune Brands Innovations by 812.5% during the fourth quarter. SG Americas Securities LLC now owns 33,543 shares of the company's stock worth $2,292,000 after buying an additional 29,867 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Fortune Brands Innovations by 3.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,663 shares of the company's stock valued at $729,000 after purchasing an additional 320 shares during the period. Finally, Tributary Capital Management LLC increased its holdings in Fortune Brands Innovations by 85.9% in the 4th quarter. Tributary Capital Management LLC now owns 12,676 shares of the company's stock valued at $866,000 after buying an additional 5,856 shares during the period. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Trading Down 3.2%

FBIN stock traded down $1.64 during trading on Wednesday, hitting $49.94. The company had a trading volume of 5,099,571 shares, compared to its average volume of 1,521,118. The firm has a 50-day moving average price of $54.23 and a 200-day moving average price of $64.98. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month 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. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 2.00 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 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 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 company earned $0.83 EPS. Fortune Brands Innovations's revenue was down 6.9% on a year-over-year basis. As a group, analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th will be given a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.00%. Fortune Brands Innovations's dividend payout ratio is currently 29.33%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barclays decreased 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. UBS Group decreased their price objective on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen cut Fortune Brands Innovations from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Royal Bank of Canada dropped their target price on shares of 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. Finally, Truist Financial set a $65.00 price target on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Fortune Brands Innovations presently has a consensus rating of "Hold" and a consensus price target of $77.17.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Kristin Papesh bought 483 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the purchase, the executive vice president now owns 7,617 shares of the company's stock, valued at $472,177.83. This represents a 6.77% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

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.