Alberta Investment Management Corp Sells 9,127 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Alberta Investment Management Corp trimmed its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 17.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,061 shares of the company's stock after selling 9,127 shares during the quarter. Alberta Investment Management Corp's holdings in Fortune Brands Innovations were worth $2,942,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new position in shares of Fortune Brands Innovations during the third quarter valued at about $25,000. Wingate Wealth Advisors Inc. bought a new position in shares of Fortune Brands Innovations in the fourth quarter worth about $55,000. Darwin Wealth Management LLC purchased a new position in shares of Fortune Brands Innovations during the third quarter worth approximately $81,000. Blue Trust Inc. raised its position 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 in the last quarter. Finally, Asset Planning Inc bought a new position in Fortune Brands Innovations during the 4th quarter worth about $100,000. Institutional investors own 87.60% of the company's stock.

Insiders Place Their Bets

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the sale, the executive vice president now owns 10,066 shares of the company's stock, valued at $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Fortune Brands Innovations Price Performance

FBIN stock traded down $1.13 during trading on Friday, hitting $65.51. The stock had a trading volume of 1,243,394 shares, compared to its average volume of 1,597,985. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 2.01 and a beta of 1.50. The company's 50 day moving average price is $70.50 and its two-hundred day moving average price is $77.50. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.98 EPS 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%. On average, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.53%. This is a boost from Fortune Brands Innovations's previous quarterly dividend of $0.24. Fortune Brands Innovations's dividend payout ratio (DPR) is currently 25.60%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FBIN. Barclays lowered their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating on the stock in a report on Friday, February 7th. UBS Group dropped their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Royal Bank of Canada reduced their price target 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. Evercore ISI cut their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating for the company in a research note on Thursday, November 7th. Finally, Truist Financial upped their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Fortune Brands Innovations has an average rating of "Hold" and a consensus price target of $86.64.

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.