abrdn plc Sells 21,108 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

abrdn plc cut its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 479,369 shares of the company's stock after selling 21,108 shares during the quarter. abrdn plc owned about 0.39% of Fortune Brands Innovations worth $32,741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its position in shares of Fortune Brands Innovations by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company's stock worth $323,000 after purchasing an additional 121 shares in the last quarter. Smithfield Trust Co boosted its holdings in Fortune Brands Innovations by 4.6% in the third quarter. Smithfield Trust Co now owns 3,031 shares of the company's stock worth $271,000 after acquiring an additional 133 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in shares of Fortune Brands Innovations by 1.7% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company's stock worth $556,000 after acquiring an additional 138 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Fortune Brands Innovations by 2.9% in the third quarter. Wedmont Private Capital now owns 5,786 shares of the company's stock worth $502,000 after acquiring an additional 164 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Fortune Brands Innovations by 8.3% during the third quarter. CWM LLC now owns 2,199 shares of the company's stock valued at $197,000 after acquiring an additional 169 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

Shares of Fortune Brands Innovations stock traded down $0.86 during trading hours on Friday, reaching $68.20. 3,850,555 shares of the stock traded hands, compared to its average volume of 1,361,096. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 2.01 and a beta of 1.50. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. The company has a 50 day moving average price of $72.32 and a 200 day moving average price of $78.06.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.25%. On average, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.53 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. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.47%. This is an increase from Fortune Brands Innovations's previous quarterly dividend of $0.24. Fortune Brands Innovations's dividend payout ratio (DPR) is 25.60%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FBIN. Truist Financial raised their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Barclays reduced their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating for the company in a report on Friday. Robert W. Baird lowered their price target on Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. Evercore ISI dropped 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 report on Thursday, November 7th. Finally, The Goldman Sachs Group decreased their target price 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. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $86.64.

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.