Wellington Management Group LLP Has $172.52 Million Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Wellington Management Group LLP decreased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 34.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,265,847 shares of the company’s stock after selling 1,190,729 shares during the period. Wellington Management Group LLP’s holdings in Fortune Brands Innovations were worth $172,522,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pathstone Family Office LLC acquired a new stake in Fortune Brands Innovations in the third quarter worth $313,000. UBS Group AG lifted its holdings in Fortune Brands Innovations by 40.9% during the third quarter. UBS Group AG now owns 107,061 shares of the company’s stock worth $6,655,000 after acquiring an additional 31,099 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Fortune Brands Innovations by 77.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 40,580 shares of the company’s stock worth $2,535,000 after acquiring an additional 17,666 shares in the last quarter. Kestra Advisory Services LLC grew its stake in Fortune Brands Innovations by 15.9% in the third quarter. Kestra Advisory Services LLC now owns 4,268 shares of the company’s stock valued at $265,000 after acquiring an additional 584 shares during the period. Finally, Rafferty Asset Management LLC increased its holdings in shares of Fortune Brands Innovations by 9.8% in the third quarter. Rafferty Asset Management LLC now owns 30,572 shares of the company’s stock worth $1,900,000 after acquiring an additional 2,726 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

FBIN has been the subject of several research analyst reports. Evercore ISI decreased their price objective on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research report on Wednesday, May 1st. Robert W. Baird lifted their price target on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $79.22.

Fortune Brands Innovations Trading Up 0.4 %

Shares of FBIN stock opened at $67.60 on Thursday. The stock has a market cap of $8.46 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 1.86 and a beta of 1.57. Fortune Brands Innovations, Inc. has a 1 year low of $54.10 and a 1 year high of $84.92. The company has a current ratio of 2.04, a quick ratio of 1.08 and a debt-to-equity ratio of 1.33. The stock has a 50 day simple moving average of $71.71 and a 200 day simple moving average of $76.34.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 EPS. On average, research analysts predict that Fortune Brands Innovations, Inc. will post 4.31 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors 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 annualized dividend and a yield of 1.42%. Fortune Brands Innovations’s dividend payout ratio is 29.36%.

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.