Mutual of America Capital Management LLC Has $4.48 Million Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Mutual of America Capital Management LLC cut its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,621 shares of the company’s stock after selling 1,454 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of Fortune Brands Innovations worth $4,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FBIN. Trust Point Inc. acquired a new position in Fortune Brands Innovations during the fourth quarter valued at $319,000. SG Americas Securities LLC grew its stake in Fortune Brands Innovations by 812.5% during the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock valued at $2,292,000 after acquiring an additional 29,867 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Fortune Brands Innovations by 75.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 29,635 shares of the company’s stock valued at $2,003,000 after purchasing an additional 12,732 shares during the period. Nordea Investment Management AB lifted its position in shares of Fortune Brands Innovations by 1.9% in the fourth quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after purchasing an additional 35,289 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Fortune Brands Innovations by 30.9% in the fourth quarter. KBC Group NV now owns 163,466 shares of the company’s stock worth $11,169,000 after purchasing an additional 38,546 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FBIN has been the topic of several research reports. Robert W. Baird dropped their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. 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 on the stock in a report on Friday, February 7th. Barclays cut their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Truist Financial boosted their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Evercore ISI dropped their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research 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, the stock has a consensus rating of “Hold” and a consensus price target of $86.64.

Fortune Brands Innovations Price Performance

NYSE FBIN opened at $61.25 on Wednesday. Fortune Brands Innovations, Inc. has a fifty-two week low of $60.81 and a fifty-two week high of $90.54. The stock’s 50-day moving average is $69.39 and its two-hundred day moving average is $77.00. The firm has a market cap of $7.51 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 2.00 and a beta of 1.50. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share 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 22.05%. On average, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued 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 dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is currently 26.67%.

Insider Activity at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the transaction, the executive vice president now directly owns 10,066 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

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.