Fiduciary Family Office LLC Sells 423 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Fiduciary Family Office LLC cut its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,237 shares of the company’s stock after selling 423 shares during the period. Fiduciary Family Office LLC’s holdings in Fortune Brands Innovations were worth $917,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in Fortune Brands Innovations in the 2nd quarter valued at about $31,000. LRI Investments LLC purchased a new position in shares of Fortune Brands Innovations in the 1st quarter worth approximately $34,000. Brown Brothers Harriman & Co. boosted its stake in shares of Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after buying an additional 437 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Fortune Brands Innovations in the 1st quarter worth approximately $51,000. Finally, Rothschild Investment LLC purchased a new position in Fortune Brands Innovations in the second quarter valued at approximately $54,000. 87.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on FBIN. Truist Financial upped their price objective on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays upped their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upped their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group upped their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Robert W. Baird upped their price target on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Fortune Brands Innovations presently has an average rating of “Hold” and a consensus price target of $90.20.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock traded up $0.52 during mid-day trading on Tuesday, reaching $84.64. 101,333 shares of the company’s stock traded hands, compared to its average volume of 1,168,671. Fortune Brands Innovations, Inc. has a 12 month low of $59.72 and a 12 month high of $90.54. The firm has a 50 day moving average price of $84.69 and a two-hundred day moving average price of $76.04. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The firm has a market capitalization of $10.50 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 2.64 and a beta of 1.51.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is currently 27.20%.

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.