Global Retirement Partners LLC Has $278,000 Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Global Retirement Partners LLC lessened its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 41.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,068 shares of the company’s stock after selling 2,909 shares during the quarter. Global Retirement Partners LLC’s holdings in Fortune Brands Innovations were worth $278,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Creative Planning boosted its stake in shares of Fortune Brands Innovations by 3.1% in the 3rd quarter. Creative Planning now owns 23,706 shares of the company’s stock valued at $2,122,000 after purchasing an additional 714 shares in the last quarter. Blue Trust Inc. lifted its holdings in Fortune Brands Innovations by 35.4% during the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the company’s stock valued at $109,000 after purchasing an additional 318 shares during the last quarter. Raymond James & Associates grew its stake in Fortune Brands Innovations by 28.0% during the third quarter. Raymond James & Associates now owns 50,216 shares of the company’s stock worth $4,496,000 after buying an additional 10,998 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Fortune Brands Innovations by 179.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 16,903 shares of the company’s stock worth $1,513,000 after buying an additional 10,865 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Fortune Brands Innovations by 10.0% in the third quarter. Signaturefd LLC now owns 2,092 shares of the company’s stock valued at $187,000 after acquiring an additional 191 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of Fortune Brands Innovations stock opened at $64.87 on Tuesday. The firm has a fifty day moving average of $70.09 and a two-hundred day moving average of $77.44. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.00 and a beta of 1.50. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results 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%. As a group, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 1.54%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s payout ratio is currently 25.60%.

Wall Street Analysts Forecast Growth

FBIN has been the subject of several research analyst reports. Truist Financial lifted their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Robert W. Baird reduced their price target on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. The Goldman Sachs Group lowered their price objective on shares of 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. Evercore ISI reduced their target price on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Finally, Royal Bank of Canada lowered their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $86.64.

Insider Buying and Selling at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction dated 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 owns 10,066 shares of the company’s stock, valued at $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

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.