Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,636 shares of the company’s stock after selling 209 shares during the period. Crossmark Global Holdings Inc.’s holdings in Fortune Brands Innovations were worth $522,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Fortune Brands Innovations during the third quarter valued at $25,000. Quarry LP grew its position in Fortune Brands Innovations by 3,069.0% in the 2nd quarter. Quarry LP now owns 919 shares of the company’s stock valued at $60,000 after buying an additional 890 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in Fortune Brands Innovations by 31.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after buying an additional 216 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of Fortune Brands Innovations during the 3rd quarter worth about $81,000. Finally, Blue Trust Inc. lifted its stake in shares of Fortune Brands Innovations by 35.4% in the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the company’s stock worth $109,000 after acquiring an additional 318 shares during the period. Institutional investors own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Barclays lowered their price objective on shares of Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group lifted their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets upped their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Truist Financial lifted their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group cut their price target on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $89.36.

Fortune Brands Innovations Trading Down 0.5 %

Shares of FBIN opened at $72.51 on Monday. The business’s 50-day moving average price is $73.49 and its 200 day moving average price is $78.16. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $9.01 billion, a P/E ratio of 20.43, a P/E/G ratio of 2.17 and a beta of 1.49. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. Analysts expect that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s payout ratio is 27.04%.

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.