Citigroup Inc. Has $7.79 Million Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Citigroup Inc. lessened its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 37.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,003 shares of the company’s stock after selling 51,366 shares during the quarter. Citigroup Inc. owned about 0.07% of Fortune Brands Innovations worth $7,789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. CIBC Asset Management Inc increased its holdings in shares of Fortune Brands Innovations by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock valued at $323,000 after purchasing an additional 121 shares in the last quarter. Smithfield Trust Co boosted its position in Fortune Brands Innovations by 4.6% in the 3rd quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock valued at $271,000 after buying an additional 133 shares during the last quarter. Wedmont Private Capital increased its stake in shares of Fortune Brands Innovations by 2.9% in the 3rd quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock valued at $502,000 after buying an additional 164 shares during the period. Summit Trail Advisors LLC raised its position in shares of Fortune Brands Innovations by 2.4% during the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock worth $474,000 after acquiring an additional 169 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Fortune Brands Innovations by 8.3% during the third quarter. CWM LLC now owns 2,199 shares of the company’s stock valued at $197,000 after acquiring an additional 169 shares during the period. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Price Performance

NYSE FBIN opened at $78.31 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 2.50 and a beta of 1.51. The business has a 50 day simple moving average of $83.75 and a 200 day simple moving average of $76.59. Fortune Brands Innovations, Inc. has a 52-week low of $62.54 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.01. The company had revenue of $1.16 billion during 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 revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be issued a $0.24 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.23%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Robert W. Baird lowered their target price 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. Barclays increased their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. UBS Group decreased their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Jefferies Financial Group increased their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $91.36.

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.