Sanctuary Advisors LLC Sells 1,658 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Sanctuary Advisors LLC trimmed its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 24.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,003 shares of the company’s stock after selling 1,658 shares during the period. Sanctuary Advisors LLC’s holdings in Fortune Brands Innovations were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of FBIN. Brooklyn Investment Group purchased a new position in shares of Fortune Brands Innovations in the third quarter valued at $25,000. Brown Brothers Harriman & Co. grew its holdings in Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after buying an additional 437 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Fortune Brands Innovations in the second quarter worth about $54,000. Quarry LP boosted its position in shares of Fortune Brands Innovations by 3,069.0% in the second quarter. Quarry LP now owns 919 shares of the company’s stock valued at $60,000 after acquiring an additional 890 shares during the period. Finally, Raleigh Capital Management Inc. grew its stake in Fortune Brands Innovations by 31.7% during the third quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after acquiring an additional 216 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Trading Up 0.1 %

FBIN stock opened at $69.88 on Friday. Fortune Brands Innovations, Inc. has a one year low of $62.54 and a one year high of $90.54. The company has a market capitalization of $8.68 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 2.51 and a beta of 1.47. The company’s 50 day moving average price is $78.49 and its two-hundred day moving average price is $77.22. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The company’s revenue was down 8.4% on a year-over-year basis. As a group, analysts predict that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a $0.25 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.43%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s payout ratio is presently 28.17%.

Analyst Upgrades and Downgrades

FBIN has been the subject of several analyst reports. Barclays raised their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Evercore ISI dropped their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. UBS Group decreased their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, BMO Capital Markets upped their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and an average target price of $91.36.

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.