Global Retirement Partners LLC Has $278,000 Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Global Retirement Partners LLC decreased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 41.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,068 shares of the company’s stock after selling 2,909 shares during the period. Global Retirement Partners LLC’s holdings in Fortune Brands Innovations were worth $278,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Fortune Brands Innovations during the third quarter worth about $25,000. Wingate Wealth Advisors Inc. acquired a new position in Fortune Brands Innovations during the 4th quarter worth approximately $55,000. Darwin Wealth Management LLC bought a new position in shares of Fortune Brands Innovations during the 3rd quarter worth approximately $81,000. Blue Trust Inc. raised its holdings in shares of Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after purchasing an additional 219 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $100,000. 87.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Royal Bank of Canada reduced their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. UBS Group lowered their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Truist Financial increased their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Barclays decreased their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and an average target price of $86.64.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $64.87 on Tuesday. The stock has a market cap of $8.06 billion, a PE ratio of 17.30, a P/E/G ratio of 2.00 and a beta of 1.50. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The firm has a 50-day moving average of $70.09 and a 200-day moving average of $77.44. 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 Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. On average, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.54%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 25.60%.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the sale, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.

About Fortune Brands Innovations

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.