New York State Teachers Retirement System Decreases Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

New York State Teachers Retirement System decreased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,940 shares of the company's stock after selling 6,200 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Fortune Brands Innovations worth $10,112,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Choreo LLC grew its stake in shares of Fortune Brands Innovations by 2.9% in the first quarter. Choreo LLC now owns 5,701 shares of the company's stock worth $483,000 after acquiring an additional 163 shares in the last quarter. Wedmont Private Capital grew its stake in Fortune Brands Innovations by 2.9% during the 3rd quarter. Wedmont Private Capital now owns 5,786 shares of the company's stock worth $502,000 after purchasing an additional 164 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Fortune Brands Innovations by 2.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company's stock worth $665,000 after purchasing an additional 168 shares during the period. Summit Trail Advisors LLC raised its position in Fortune Brands Innovations by 2.4% in the 2nd quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company's stock valued at $474,000 after purchasing an additional 169 shares in the last quarter. Finally, CWM LLC raised its position in Fortune Brands Innovations by 8.3% in the 3rd quarter. CWM LLC now owns 2,199 shares of the company's stock valued at $197,000 after purchasing an additional 169 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

Fortune Brands Innovations Stock Performance

NYSE:FBIN traded up $0.33 during midday trading on Monday, reaching $84.12. The stock had a trading volume of 985,155 shares, compared to its average volume of 1,173,682. The stock has a market cap of $10.44 billion, a P/E ratio of 23.83, a P/E/G ratio of 2.63 and a beta of 1.51. The firm has a fifty day simple moving average of $84.69 and a two-hundred day simple moving average of $76.04. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. Fortune Brands Innovations, Inc. has a 12-month low of $59.72 and a 12-month high of $90.54.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations's payout ratio is 27.20%.

Analyst Upgrades and Downgrades

FBIN has been the topic of a number of recent research reports. Royal Bank of Canada upped their target price on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a "sector perform" rating in a research note on Friday, July 26th. Barclays increased their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. BMO Capital Markets raised their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a "market perform" rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group upped their price objective 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 four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $90.20.

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.