Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 22.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,354 shares of the company's stock after selling 3,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Fortune Brands Innovations were worth $912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new stake in shares of Fortune Brands Innovations in the third quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new position in Fortune Brands Innovations during the fourth quarter valued at $55,000. Darwin Wealth Management LLC bought a new position in Fortune Brands Innovations during the third quarter valued at $81,000. Blue Trust Inc. lifted its holdings in shares of Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after acquiring an additional 219 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in shares of Fortune Brands Innovations in the 4th quarter worth about $100,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction 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. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their target price 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. Barclays reduced 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 research note on Friday, February 7th. The Goldman Sachs Group cut their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. UBS Group cut 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 research report on Friday, February 7th. Finally, Robert W. Baird lowered their target price on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $86.64.

Fortune Brands Innovations Stock Performance

NYSE FBIN traded down $0.27 on Friday, hitting $64.70. 3,334,916 shares of the company's stock traded hands, compared to its average volume of 1,648,071. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $8.04 billion, a PE ratio of 17.25, a P/E/G ratio of 2.00 and a beta of 1.50. The firm's 50-day moving average price is $69.69 and its two-hundred day moving average price is $77.20. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted 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, analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.55%. The ex-dividend date is Friday, February 21st. This is a positive change from Fortune Brands Innovations's previous quarterly dividend of $0.24. Fortune Brands Innovations's payout ratio is presently 26.67%.

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.