Fiduciary Family Office LLC Decreases Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Fiduciary Family Office LLC trimmed its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,237 shares of the company’s stock after selling 423 shares during the quarter. Fiduciary Family Office LLC’s holdings in Fortune Brands Innovations were worth $917,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in FBIN. Select Equity Group L.P. grew its stake in Fortune Brands Innovations by 48.8% in the 2nd quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after acquiring an additional 2,075,673 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Fortune Brands Innovations by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,840,067 shares of the company’s stock valued at $119,501,000 after acquiring an additional 167,758 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Fortune Brands Innovations by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company’s stock valued at $89,507,000 after acquiring an additional 24,139 shares during the last quarter. Robeco Schweiz AG raised its holdings in shares of Fortune Brands Innovations by 26.5% in the second quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock worth $58,873,000 after buying an additional 189,635 shares during the last quarter. Finally, APG Asset Management N.V. raised its holdings in shares of Fortune Brands Innovations by 1.7% during the second quarter. APG Asset Management N.V. now owns 539,712 shares of the company’s stock worth $32,702,000 after purchasing an additional 9,145 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Trading Up 0.6 %

FBIN stock traded up $0.52 during trading on Tuesday, reaching $84.64. 101,333 shares of the stock were exchanged, compared to its average volume of 1,168,671. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. The business has a 50 day moving average price of $84.69 and a 200-day moving average price of $76.04. Fortune Brands Innovations, Inc. has a 1 year low of $59.72 and a 1 year high of $90.54. The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 2.64 and a beta of 1.51.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.13%. Fortune Brands Innovations’s payout ratio is currently 27.20%.

Wall Street Analysts Forecast Growth

FBIN has been the subject of several recent research reports. Loop Capital reduced their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. Robert W. Baird raised their price target on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Jefferies Financial Group raised their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada raised their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Finally, Truist Financial lifted their target price on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $90.20.

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.