OMERS ADMINISTRATION Corp Has $1.46 Million Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

OMERS ADMINISTRATION Corp trimmed its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 32.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,353 shares of the company's stock after selling 10,027 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Fortune Brands Innovations were worth $1,459,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter worth $55,000. IFP Advisors Inc lifted its stake in shares of Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after purchasing an additional 275 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Fortune Brands Innovations during the fourth quarter worth approximately $82,000. Finally, Blue Trust Inc. increased its holdings in Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock valued at $98,000 after purchasing an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Insiders Place Their Bets

In related news, EVP Kristin Papesh purchased 483 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the acquisition, 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company's stock.

Fortune Brands Innovations Price Performance

FBIN stock traded down $1.83 during trading on Wednesday, hitting $52.11. The company had a trading volume of 287,567 shares, compared to its average volume of 1,858,081. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.54. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 2.00 and a beta of 1.49. The business has a 50 day moving average of $55.47 and a 200 day moving average of $66.08. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted 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 company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.07 billion. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The company's quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 EPS. As a group, research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations's dividend payout ratio (DPR) is currently 29.33%.

Analysts Set New Price Targets

A number of brokerages have weighed in on FBIN. Truist Financial set a $65.00 price objective on Fortune Brands Innovations in a research note on Wednesday, May 7th. Royal Bank of Canada dropped their price target on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 7th. UBS Group reduced 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. Robert W. Baird dropped their target price on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Barclays reduced 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. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $77.17.

Fortune Brands Innovations Company 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.