Summit Place Financial Advisors LLC Has $1.91 Million Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Summit Place Financial Advisors LLC lowered its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,900 shares of the company's stock after selling 8,800 shares during the period. Summit Place Financial Advisors LLC's holdings in Fortune Brands Innovations were worth $1,906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CIBC Asset Management Inc increased its holdings in shares of Fortune Brands Innovations by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company's stock valued at $323,000 after purchasing an additional 121 shares in the last quarter. Smithfield Trust Co increased its holdings in shares of Fortune Brands Innovations by 4.6% in the third quarter. Smithfield Trust Co now owns 3,031 shares of the company's stock valued at $271,000 after purchasing an additional 133 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in shares of Fortune Brands Innovations by 1.7% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company's stock valued at $556,000 after purchasing an additional 138 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in Fortune Brands Innovations by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock valued at $222,000 after acquiring an additional 156 shares during the last quarter. Finally, CWM LLC boosted its stake in Fortune Brands Innovations by 8.3% in the third quarter. CWM LLC now owns 2,199 shares of the company's stock valued at $197,000 after acquiring an additional 169 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

Insider Transactions at Fortune Brands Innovations

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

Fortune Brands Innovations Stock Down 1.7 %

Shares of NYSE:FBIN traded down $1.13 during midday trading on Friday, reaching $65.51. 1,243,394 shares of the company were exchanged, compared to its average volume of 1,624,414. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The stock has a fifty day simple moving average of $70.29 and a two-hundred day simple moving average of $77.44. The firm has a market cap of $8.14 billion, a PE ratio of 17.47, a P/E/G ratio of 2.00 and a beta of 1.50.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. As a group, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.25 dividend. This is a positive change from Fortune Brands Innovations's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations's payout ratio is presently 25.60%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Truist Financial raised their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group reduced their price objective 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. Royal Bank of Canada reduced their price objective 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. Barclays reduced their price objective 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. Finally, UBS Group reduced 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 note on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $86.64.

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.