Fenimore Asset Management Inc Has $16.71 Million Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Fenimore Asset Management Inc lessened its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 15.5% during the 4th quarter, Holdings Channel reports. The firm owned 244,506 shares of the company’s stock after selling 44,827 shares during the period. Fenimore Asset Management Inc’s holdings in Fortune Brands Innovations were worth $16,707,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. CIBC Asset Management Inc lifted its holdings in Fortune Brands Innovations by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock valued at $323,000 after buying an additional 121 shares during the period. Smithfield Trust Co raised its position in shares of Fortune Brands Innovations by 4.6% during the 3rd quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock valued at $271,000 after acquiring an additional 133 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Fortune Brands Innovations by 2.9% in the 3rd quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock valued at $502,000 after purchasing an additional 164 shares during the period. CWM LLC boosted its position in shares of Fortune Brands Innovations by 8.3% in the 3rd quarter. CWM LLC now owns 2,199 shares of the company’s stock worth $197,000 after purchasing an additional 169 shares during the last quarter. Finally, UMB Bank n.a. grew its stake 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 during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 0.5 %

Shares of FBIN stock opened at $72.51 on Friday. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. The firm has a fifty day moving average of $73.49 and a 200-day moving average of $77.97. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 2.17 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business earned $1.19 EPS. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 27.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays reduced their target price on Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Robert W. Baird cut their price target on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Truist Financial boosted their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, November 7th. BMO Capital Markets increased their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Finally, UBS Group reduced their price target on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $89.36.

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.