Robeco Institutional Asset Management B.V. Sells 72,172 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Robeco Institutional Asset Management B.V. reduced its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 30.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 165,056 shares of the company’s stock after selling 72,172 shares during the period. Robeco Institutional Asset Management B.V. owned 0.13% of Fortune Brands Innovations worth $12,567,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FBIN. Vanguard Group Inc. boosted its holdings in Fortune Brands Innovations by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,409,724 shares of the company’s stock valued at $771,388,000 after purchasing an additional 50,047 shares during the period. Federated Hermes Inc. increased its stake in Fortune Brands Innovations by 6.4% in the 3rd quarter. Federated Hermes Inc. now owns 2,045,726 shares of the company’s stock worth $127,162,000 after acquiring an additional 123,041 shares during the last quarter. Northern Trust Corp boosted its position in shares of Fortune Brands Innovations by 15.7% during the 3rd quarter. Northern Trust Corp now owns 1,654,531 shares of the company’s stock valued at $102,846,000 after acquiring an additional 224,829 shares during the last quarter. FMR LLC raised its stake in Fortune Brands Innovations by 2.8% in the third quarter. FMR LLC now owns 1,525,640 shares of the company’s stock valued at $94,834,000 after purchasing an additional 40,839 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Fortune Brands Innovations by 4.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,485,605 shares of the company’s stock worth $92,345,000 after buying an additional 62,243 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $73.00 on Monday. 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, Inc. has a twelve month low of $54.10 and a twelve month high of $84.92. The company’s 50-day moving average price is $77.54 and its 200-day moving average price is $75.74. The company has a market cap of $9.13 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58.

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

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, May 23rd. Fortune Brands Innovations’s dividend payout ratio (DPR) is 29.36%.

Insider Activity

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the transaction, the director now owns 2,435 shares in the company, valued at $197,478.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on FBIN shares. Barclays lifted their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Evercore ISI dropped their target price on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, May 1st. BMO Capital Markets reissued a “market perform” rating and set a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Finally, Robert W. Baird boosted their price objective on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $79.22.

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.