Barclays PLC Trims Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Barclays PLC reduced its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 50.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 132,531 shares of the company's stock after selling 135,084 shares during the quarter. Barclays PLC owned about 0.11% of Fortune Brands Innovations worth $11,865,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at approximately $25,000. Family Firm Inc. purchased a new position in Fortune Brands Innovations during the 2nd quarter worth approximately $31,000. Brown Brothers Harriman & Co. raised its position in Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company's stock worth $34,000 after buying an additional 437 shares during the last quarter. Rothschild Investment LLC purchased a new position in Fortune Brands Innovations during the 2nd quarter worth approximately $54,000. Finally, Blue Trust Inc. raised its position in Fortune Brands Innovations by 37.0% during the 2nd quarter. Blue Trust Inc. now owns 899 shares of the company's stock worth $58,000 after buying an additional 243 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock traded down $1.12 during trading on Tuesday, reaching $73.81. The company had a trading volume of 827,219 shares, compared to its average volume of 1,181,538. The firm's 50-day simple moving average is $81.15 and its 200 day simple moving average is $77.24. 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 capitalization of $9.17 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.51 and a beta of 1.47. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same quarter in the previous year, the company posted $1.19 EPS. The firm's quarterly revenue was down 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Fortune Brands Innovations's previous quarterly dividend of $0.24. Fortune Brands Innovations's payout ratio is 28.17%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FBIN. Truist Financial raised their price target 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. Jefferies Financial Group raised their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. BMO Capital Markets raised their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd. UBS Group dropped their price objective on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Finally, Barclays raised their price objective 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. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Fortune Brands Innovations presently has an average rating of "Hold" and an average price target of $91.36.

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.