Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Compass Ion Advisors LLC

Compass Ion Advisors LLC decreased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 35.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,174 shares of the company’s stock after selling 3,998 shares during the period. Compass Ion Advisors LLC’s holdings in Fortune Brands Innovations were worth $607,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC acquired a new stake in shares of Fortune Brands Innovations in the first quarter valued at about $301,000. Courier Capital LLC purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter worth approximately $203,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Fortune Brands Innovations by 2.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock worth $665,000 after acquiring an additional 168 shares in the last quarter. Atlas Capital Advisors LLC grew its holdings in shares of Fortune Brands Innovations by 6.6% in the 1st quarter. Atlas Capital Advisors LLC now owns 4,687 shares of the company’s stock worth $397,000 after acquiring an additional 291 shares during the period. Finally, Sound Income Strategies LLC increased its stake in Fortune Brands Innovations by 312.3% in the 1st quarter. Sound Income Strategies LLC now owns 1,443 shares of the company’s stock valued at $122,000 after purchasing an additional 1,093 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on FBIN shares. Evercore ISI lowered their price target on shares of 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. Robert W. Baird raised their price target 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. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and an average price target of $80.38.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $64.94 on Monday. The company has a market cap of $8.12 billion, a P/E ratio of 19.86, a PEG ratio of 1.79 and a beta of 1.52. The business has a 50 day moving average of $70.17 and a two-hundred day moving average of $75.94. 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.

Fortune Brands Innovations (NYSE:FBIN) last posted 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. The company had revenue of $1.11 billion for 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 firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. As a group, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.31 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were paid a $0.24 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $0.96 annualized dividend and a dividend yield of 1.48%. Fortune Brands Innovations’s payout ratio is 29.36%.

Fortune Brands Innovations Company 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.