Truist Financial Corp Trims Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Truist Financial Corp lowered its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 168,480 shares of the company's stock after selling 12,756 shares during the quarter. Truist Financial Corp owned approximately 0.14% of Fortune Brands Innovations worth $11,512,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. CWM LLC lifted its stake in shares of 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 during the period. Creative Planning lifted its stake in shares of Fortune Brands Innovations by 3.1% in the 3rd quarter. Creative Planning now owns 23,706 shares of the company's stock valued at $2,122,000 after purchasing an additional 714 shares during the period. Blue Trust Inc. raised its stake in Fortune Brands Innovations by 35.4% during the third quarter. Blue Trust Inc. now owns 1,217 shares of the company's stock valued at $109,000 after buying an additional 318 shares during the last quarter. Raymond James & Associates raised its stake in Fortune Brands Innovations by 28.0% during the third quarter. Raymond James & Associates now owns 50,216 shares of the company's stock valued at $4,496,000 after buying an additional 10,998 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Fortune Brands Innovations by 179.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 16,903 shares of the company's stock valued at $1,513,000 after buying an additional 10,865 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Trading Down 1.7 %

Shares of FBIN traded down $1.13 during mid-day trading on Friday, reaching $65.51. 1,243,394 shares of the company's stock traded hands, compared to its average volume of 1,597,985. The stock has a market cap of $8.14 billion, a P/E ratio of 17.47, a P/E/G ratio of 2.01 and a beta of 1.50. The stock's 50-day moving average is $70.50 and its two-hundred day moving average is $77.50. 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 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results 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 net margin of 10.24% and a return on equity of 22.05%. Research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FBIN shares. Royal Bank of Canada lowered their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th. Robert W. Baird lowered their price objective on 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. UBS Group reduced their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a report on Friday, February 7th. Barclays cut their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating for the company in a report on Friday, February 7th. Finally, The Goldman Sachs Group cut their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of "Hold" and an average price target of $86.64.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the company's stock in a transaction on Monday, February 10th. The stock was 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 in the company, 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 at the SEC website. 1.20% of the stock is owned by insiders.

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.