Eagle Bay Advisors LLC Has $32,000 Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Eagle Bay Advisors LLC reduced its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 33.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 473 shares of the company’s stock after selling 240 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Fortune Brands Innovations were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Capital Investment Advisors LLC raised its position in shares of Fortune Brands Innovations by 6.6% during the fourth quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock valued at $208,000 after buying an additional 190 shares during the last quarter. Nordea Investment Management AB raised its holdings in Fortune Brands Innovations by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock valued at $132,335,000 after acquiring an additional 35,289 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of Fortune Brands Innovations in the 4th quarter worth approximately $280,000. Retirement Systems of Alabama grew its holdings in shares of Fortune Brands Innovations by 0.5% during the 3rd quarter. Retirement Systems of Alabama now owns 300,897 shares of the company’s stock worth $26,939,000 after purchasing an additional 1,622 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of Fortune Brands Innovations by 10.9% during the third quarter. Tidal Investments LLC now owns 3,639 shares of the company’s stock valued at $326,000 after purchasing an additional 359 shares during the period. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Trading Up 2.7 %

FBIN stock opened at $70.88 on Tuesday. The business has a fifty day moving average price of $74.35 and a 200 day moving average price of $77.53. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 2.43 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is 28.17%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FBIN. The Goldman Sachs Group lifted their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Robert W. Baird lowered their target price on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Barclays raised their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Evercore ISI lowered their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Finally, Jefferies Financial Group raised their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $91.36.

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.