Droms Strauss Advisors Inc. MO ADV Cuts Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Droms Strauss Advisors Inc. MO ADV lowered its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 29.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,243 shares of the company’s stock after selling 1,356 shares during the period. Droms Strauss Advisors Inc. MO ADV’s holdings in Fortune Brands Innovations were worth $222,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. FMR LLC raised its position in Fortune Brands Innovations by 104.5% during the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after buying an additional 3,024,950 shares during the last quarter. Nordea Investment Management AB raised its position in Fortune Brands Innovations by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after buying an additional 35,289 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Fortune Brands Innovations by 11.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock valued at $111,650,000 after purchasing an additional 130,170 shares in the last quarter. Ninety One UK Ltd increased its holdings in shares of Fortune Brands Innovations by 6.6% in the 4th quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company’s stock valued at $82,398,000 after purchasing an additional 74,369 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Fortune Brands Innovations by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,111 shares of the company’s stock valued at $76,379,000 after purchasing an additional 4,248 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FBIN shares. BMO Capital Markets increased their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Royal Bank of Canada lowered their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group lowered their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Evercore ISI lowered their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Finally, Robert W. Baird lowered their price target on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $86.64.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $68.98 on Monday. Fortune Brands Innovations, Inc. has a 1 year low of $62.54 and a 1 year high of $90.54. The firm has a 50 day moving average price of $71.33 and a 200 day moving average price of $77.78. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.01 and a beta of 1.50. 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) last released its earnings results 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%. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.53 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a 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 25.60%.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction that occurred on 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 of the company’s stock, valued at $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate 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.