Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Select Equity Group L.P.

Select Equity Group L.P. cut its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,541,844 shares of the company's stock after selling 17,622 shares during the period. Fortune Brands Innovations accounts for 2.3% of Select Equity Group L.P.'s portfolio, making the stock its 15th largest position. Select Equity Group L.P. owned approximately 6.88% of Fortune Brands Innovations worth $583,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Fortune Brands Innovations by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company's stock worth $821,840,000 after acquiring an additional 68,404 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Fortune Brands Innovations by 2.6% during the fourth quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company's stock worth $303,792,000 after purchasing an additional 114,391 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Fortune Brands Innovations by 63.0% in the fourth quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company's stock worth $196,153,000 after purchasing an additional 1,110,021 shares during the period. Amundi increased its stake in Fortune Brands Innovations by 166.8% during the fourth quarter. Amundi now owns 2,306,864 shares of the company's stock valued at $157,953,000 after purchasing an additional 1,442,195 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Fortune Brands Innovations by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,924,181 shares of the company's stock valued at $131,481,000 after purchasing an additional 40,138 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortune Brands Innovations

In other news, EVP Kristin Papesh purchased 483 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the transaction, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FBIN shares. Wall Street Zen downgraded shares of Fortune Brands Innovations from a "hold" rating to a "sell" rating in a research report on Thursday. 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 on the stock. UBS Group decreased their target price on 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. Robert W. Baird cut 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. Finally, Barclays reduced their price objective on Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $77.17.

Fortune Brands Innovations Stock Performance

FBIN traded down $0.63 during trading hours on Thursday, hitting $50.36. The company's stock had a trading volume of 1,124,053 shares, compared to its average volume of 1,862,140. The company has a 50-day simple moving average of $55.25 and a 200 day simple moving average of $65.98. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $6.06 billion, a PE ratio of 13.43, a PEG ratio of 2.00 and a beta of 1.49. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting 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 prior year, the business posted $0.83 earnings per share. The company's revenue for the quarter was down 6.9% compared to the same quarter last year. As a group, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.99%. Fortune Brands Innovations's payout ratio is 29.33%.

About Fortune Brands Innovations

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.