Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC cut its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,198 shares of the company’s stock after selling 952 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Fortune Brands Innovations were worth $2,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Choreo LLC purchased a new position in Fortune Brands Innovations during the fourth quarter worth approximately $422,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Fortune Brands Innovations by 24.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,137 shares of the company’s stock worth $4,607,000 after buying an additional 12,217 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its position in Fortune Brands Innovations by 383.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 39,596 shares of the company’s stock worth $3,015,000 after buying an additional 31,406 shares in the last quarter. Schroder Investment Management Group lifted its position in Fortune Brands Innovations by 3.6% during the fourth quarter. Schroder Investment Management Group now owns 620,402 shares of the company’s stock worth $47,237,000 after buying an additional 21,517 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Fortune Brands Innovations by 9.0% during the fourth quarter. Allianz Asset Management GmbH now owns 841,545 shares of the company’s stock worth $64,075,000 after buying an additional 69,502 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

NYSE:FBIN opened at $64.94 on Friday. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week high of $84.92. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $8.12 billion, a P/E ratio of 19.86, a P/E/G ratio of 1.79 and a beta of 1.57. The stock’s fifty day moving average is $70.17 and its two-hundred day moving average is $75.94.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Tuesday, April 30th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 earnings per share. Equities analysts expect that Fortune Brands Innovations, Inc. will post 4.31 EPS for the current 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 issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.96 annualized dividend and a dividend yield of 1.48%. Fortune Brands Innovations’s dividend payout ratio is presently 29.36%.

Analysts Set New Price Targets

A number of equities analysts recently commented on FBIN shares. Robert W. Baird lifted their price objective on Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Evercore ISI reduced their price objective on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and a consensus target price of $80.38.

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.