UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

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

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

Fortune Brands Innovations Stock Performance

NYSE FBIN traded down $0.71 during trading hours on Friday, reaching $50.38. The stock had a trading volume of 535,195 shares, compared to its average volume of 1,528,840. The stock has a market cap of $6.06 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 2.00 and a beta of 1.49. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.54. The stock has a fifty day moving average of $53.72 and a 200 day moving average of $64.69. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25.

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

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations's payout ratio is 29.33%.

Insider Activity

In related news, EVP Kristin Papesh purchased 483 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 target price for the company. Robert W. Baird cut 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 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. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday. Finally, Royal Bank of Canada decreased 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 note on Wednesday, May 7th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Fortune Brands Innovations has a consensus rating of "Hold" and a consensus 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.