D.A. Davidson & CO. Sells 15,235 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

D.A. Davidson & CO. reduced its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 18.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 67,639 shares of the company’s stock after selling 15,235 shares during the quarter. D.A. Davidson & CO.’s holdings in Fortune Brands Innovations were worth $4,622,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FBIN. FMR LLC raised its holdings in Fortune Brands Innovations by 104.5% during the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after buying an additional 3,024,950 shares in the last quarter. Arvest Bank Trust Division acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter worth about $17,621,000. Ceredex Value Advisors LLC acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter worth about $13,170,000. Prospector Partners LLC acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter worth about $11,953,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Fortune Brands Innovations by 11.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock worth $111,650,000 after purchasing an additional 130,170 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on FBIN shares. Truist Financial boosted their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays cut their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. The Goldman Sachs Group cut their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Royal Bank of Canada cut their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, UBS Group cut their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $86.64.

Insider Activity

In related news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the sale, the executive vice president now directly owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.99% of the company’s stock.

Fortune Brands Innovations Trading Down 2.1 %

FBIN stock opened at $66.95 on Thursday. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The firm has a market cap of $8.32 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.06 and a beta of 1.50. The business’s 50 day moving average is $70.72 and its 200-day moving average is $77.57. 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) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. Equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.25 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.25 dividend. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is currently 25.60%.

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.