Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 3,900 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 22.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,354 shares of the company’s stock after selling 3,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Fortune Brands Innovations were worth $912,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Fortune Brands Innovations during the third quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Fortune Brands Innovations during the fourth quarter worth $55,000. Darwin Wealth Management LLC bought a new stake in shares of Fortune Brands Innovations during the third quarter worth $81,000. Blue Trust Inc. grew its stake in shares of Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after buying an additional 219 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in shares of Fortune Brands Innovations during the fourth quarter worth $100,000. 87.60% of the stock is owned by institutional investors.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction 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 of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Price Performance

FBIN stock opened at $65.77 on Thursday. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.00 and a beta of 1.50. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54. The company’s fifty day simple moving average is $69.86 and its 200 day simple moving average is $77.32.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results 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 net margin of 10.24% and a return on equity of 22.05%. On average, analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.25 dividend. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s payout ratio is 26.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FBIN. Evercore ISI cut their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. UBS Group cut their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Truist Financial lifted their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays cut their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Finally, The Goldman Sachs Group cut their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $86.64.

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.