Baker Ellis Asset Management LLC Sells 175 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Baker Ellis Asset Management LLC lessened its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.3% during the 1st quarter, HoldingsChannel reports. The firm owned 58,850 shares of the company’s stock after selling 175 shares during the period. Baker Ellis Asset Management LLC’s holdings in Fortune Brands Innovations were worth $4,983,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FBIN. Tobam increased its position in Fortune Brands Innovations by 1,181.5% in the fourth quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after purchasing an additional 319 shares during the last quarter. Sound Income Strategies LLC purchased a new position in Fortune Brands Innovations during the fourth quarter worth $27,000. Principal Securities Inc. purchased a new position in Fortune Brands Innovations during the fourth quarter worth $29,000. Operose Advisors LLC purchased a new position in Fortune Brands Innovations during the third quarter worth $31,000. Finally, First United Bank & Trust purchased a new position in Fortune Brands Innovations during the fourth quarter worth $38,000. Institutional investors own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FBIN. Evercore ISI dropped their price objective on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research note on Wednesday, May 1st. Robert W. Baird lifted their price objective on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus target price of $80.38.

Fortune Brands Innovations Trading Down 0.8 %

Shares of FBIN traded down $0.53 during trading hours on Friday, reaching $64.94. 2,504,939 shares of the company traded hands, compared to its average volume of 1,527,886. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.80 and a beta of 1.57. Fortune Brands Innovations, Inc. has a 12-month low of $54.10 and a 12-month high of $84.92. The company has a current ratio of 2.04, a quick ratio of 1.08 and a debt-to-equity ratio of 1.33. The stock’s fifty day moving average price is $70.17 and its 200 day moving average price is $75.92.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. Sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.31 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, May 23rd. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.36%.

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.