State of Alaska Department of Revenue Has $967,000 Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

State of Alaska Department of Revenue cut its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,164 shares of the company’s stock after selling 255 shares during the period. State of Alaska Department of Revenue’s holdings in Fortune Brands Innovations were worth $967,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in shares of Fortune Brands Innovations during the third quarter worth approximately $25,000. Raleigh Capital Management Inc. lifted its position in shares of Fortune Brands Innovations by 31.7% during the third quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock worth $80,000 after purchasing an additional 216 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Fortune Brands Innovations during the third quarter worth approximately $81,000. Blue Trust Inc. lifted its position in shares of Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after purchasing an additional 219 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Fortune Brands Innovations by 11.2% during the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after purchasing an additional 170 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada reduced their target price on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Barclays cut their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. BMO Capital Markets increased their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Robert W. Baird cut their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, The Goldman Sachs Group cut their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $86.64.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now owns 10,066 shares of the company’s stock, valued at $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Fortune Brands Innovations Stock Down 0.7 %

Shares of NYSE:FBIN opened at $68.40 on Friday. Fortune Brands Innovations, Inc. has a 52 week low of $62.54 and a 52 week high of $90.54. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The company has a market capitalization of $8.50 billion, a PE ratio of 18.24, a PEG ratio of 2.01 and a beta of 1.50. The company has a 50 day moving average price of $71.53 and a two-hundred day moving average price of $77.90.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.25%. Analysts forecast that Fortune Brands Innovations, Inc. will post 4.53 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.25 per share. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.46%. Fortune Brands Innovations’s dividend payout ratio is currently 26.67%.

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.