Teachers Retirement System of The State of Kentucky Sells 2,000 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,789 shares of the company’s stock after selling 2,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Fortune Brands Innovations were worth $3,182,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Tobam lifted its stake in Fortune Brands Innovations by 1,181.5% in the fourth quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after acquiring an additional 319 shares during the period. Sound Income Strategies LLC bought a new position in Fortune Brands Innovations in the fourth quarter worth about $27,000. Principal Securities Inc. bought a new position in Fortune Brands Innovations in the fourth quarter worth about $29,000. First United Bank & Trust bought a new position in Fortune Brands Innovations in the fourth quarter worth about $38,000. Finally, Operose Advisors LLC bought a new position in Fortune Brands Innovations in the third quarter worth about $31,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FBIN shares. Robert W. Baird upped their price objective on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Evercore ISI cut their price objective on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, May 1st. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and an average price target of $79.22.

Fortune Brands Innovations Trading Up 0.3 %

Fortune Brands Innovations stock opened at $67.59 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.08 and a debt-to-equity ratio of 1.33. Fortune Brands Innovations, Inc. has a 12 month low of $54.10 and a 12 month high of $84.92. The stock’s 50 day simple moving average is $71.97 and its two-hundred day simple moving average is $76.36. The firm has a market cap of $8.45 billion, a PE ratio of 20.67, a P/E/G ratio of 1.85 and a beta of 1.57.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $0.69 EPS. The business’s revenue was up 6.7% on a year-over-year basis. Analysts anticipate that Fortune Brands Innovations, Inc. will post 4.31 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.42%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 29.36%.

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.