Mutual of America Capital Management LLC Sells 3,518 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Mutual of America Capital Management LLC reduced its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,614 shares of the company’s stock after selling 3,518 shares during the period. Mutual of America Capital Management LLC’s holdings in Fortune Brands Innovations were worth $4,651,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new position in Fortune Brands Innovations in the fourth quarter worth $29,000. LRI Investments LLC acquired a new position in Fortune Brands Innovations during the 1st quarter worth about $34,000. Rise Advisors LLC bought a new stake in Fortune Brands Innovations during the 1st quarter worth about $38,000. Family Firm Inc. acquired a new stake in Fortune Brands Innovations in the 2nd quarter valued at about $31,000. Finally, Optimum Investment Advisors bought a new position in shares of Fortune Brands Innovations in the first quarter worth about $42,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FBIN has been the topic of several research analyst reports. Truist Financial increased their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 26th. The Goldman Sachs Group lifted their target price on Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their price target on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Barclays lifted their price objective on Fortune Brands Innovations from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $83.20.

Fortune Brands Innovations Trading Down 1.5 %

FBIN opened at $86.57 on Friday. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $88.11. The firm has a market cap of $10.83 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 2.50 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The firm’s fifty day moving average is $77.48 and its two-hundred day moving average is $74.72.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.96 annualized dividend and a yield of 1.11%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 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.