Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 24.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 59,159 shares of the company’s stock after selling 19,171 shares during the quarter. Amalgamated Bank’s holdings in Fortune Brands Innovations were worth $5,297,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Family Firm Inc. purchased a new stake in shares of Fortune Brands Innovations during the second quarter worth $31,000. LRI Investments LLC purchased a new stake in shares of Fortune Brands Innovations during the first quarter worth $34,000. Brown Brothers Harriman & Co. grew its holdings in shares of Fortune Brands Innovations by 526.5% during the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after buying an additional 437 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in shares of Fortune Brands Innovations during the first quarter worth $51,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Fortune Brands Innovations during the second quarter worth $54,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

FBIN has been the subject of a number of research reports. Loop Capital dropped their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. Barclays boosted their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group boosted 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 boosted 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, Royal Bank of Canada boosted their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $91.36.

Fortune Brands Innovations Trading Down 6.1 %

NYSE FBIN opened at $79.12 on Friday. The firm’s 50-day moving average is $85.00 and its two-hundred day moving average is $76.28. Fortune Brands Innovations, Inc. has a 12 month low of $59.72 and a 12 month high of $90.54. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The stock has a market capitalization of $9.82 billion, a P/E ratio of 22.29, a PEG ratio of 2.65 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. Fortune Brands Innovations’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.24 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.96 annualized dividend and a dividend yield of 1.21%. Fortune Brands Innovations’s dividend payout ratio is presently 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.