Baker Ellis Asset Management LLC Trims Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Baker Ellis Asset Management LLC lowered its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,850 shares of the company’s stock after selling 175 shares during the period. Baker Ellis Asset Management LLC’s holdings in Fortune Brands Innovations were worth $4,983,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Fortune Brands Innovations by 8.9% during the first quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock valued at $139,000 after purchasing an additional 134 shares during the last quarter. Apollon Wealth Management LLC grew its stake in Fortune Brands Innovations by 2.2% in the 4th quarter. Apollon Wealth Management LLC now owns 6,867 shares of the company’s stock worth $523,000 after buying an additional 149 shares in the last quarter. Addison Advisors LLC grew its stake in Fortune Brands Innovations by 38.7% in the 4th quarter. Addison Advisors LLC now owns 563 shares of the company’s stock worth $43,000 after buying an additional 157 shares in the last quarter. Tributary Capital Management LLC grew its stake in Fortune Brands Innovations by 1.9% in the 4th quarter. Tributary Capital Management LLC now owns 8,661 shares of the company’s stock worth $659,000 after buying an additional 164 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Fortune Brands Innovations by 2.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock worth $665,000 after buying an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI cut their price target on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and an average target price of $80.38.

Fortune Brands Innovations Trading Down 0.8 %

Shares of Fortune Brands Innovations stock traded down $0.53 during trading on Friday, reaching $64.94. The company’s stock had a trading volume of 2,504,939 shares, compared to its average volume of 1,527,886. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $84.92. The company has a market cap of $8.12 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.80 and a beta of 1.57. The firm’s 50-day moving average is $70.17 and its two-hundred day moving average is $75.92. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company earned $0.69 EPS. The firm’s revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.31 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.96 annualized dividend and a yield of 1.48%. Fortune Brands Innovations’s payout ratio is currently 29.36%.

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.