Sumitomo Mitsui Trust Group Inc. Sells 5,185 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Sumitomo Mitsui Trust Group Inc. decreased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 251,722 shares of the company's stock after selling 5,185 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.20% of Fortune Brands Innovations worth $17,200,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Trust Point Inc. acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $319,000. SG Americas Securities LLC grew its stake in shares of Fortune Brands Innovations by 812.5% in the fourth quarter. SG Americas Securities LLC now owns 33,543 shares of the company's stock worth $2,292,000 after acquiring an additional 29,867 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Fortune Brands Innovations by 1.9% in the fourth quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company's stock worth $132,335,000 after acquiring an additional 35,289 shares during the last quarter. KBC Group NV grew its stake in shares of Fortune Brands Innovations by 30.9% in the fourth quarter. KBC Group NV now owns 163,466 shares of the company's stock worth $11,169,000 after acquiring an additional 38,546 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Fortune Brands Innovations in the third quarter worth $208,000. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN traded up $0.63 during midday trading on Friday, reaching $68.98. 2,029,378 shares of the company traded hands, compared to its average volume of 1,361,096. The firm has a market cap of $8.57 billion, a PE ratio of 18.39, a PEG ratio of 2.01 and a beta of 1.50. The stock's 50-day simple moving average is $71.33 and its 200-day simple moving average is $77.78. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month high of $90.54. 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 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%. As a group, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.53 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from Fortune Brands Innovations's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations's payout ratio is currently 25.60%.

Insider Activity at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations 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 transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on FBIN. Truist Financial raised 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 note on Thursday, November 7th. Robert W. Baird lowered their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada decreased their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group decreased their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Finally, Evercore ISI decreased their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating on the stock in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $86.64.

Fortune Brands Innovations Company 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.