Robeco Schweiz AG Decreases Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Robeco Schweiz AG cut its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 669,393 shares of the company’s stock after selling 64,176 shares during the period. Robeco Schweiz AG owned approximately 0.54% of Fortune Brands Innovations worth $45,740,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FBIN. CIBC Asset Management Inc boosted 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 purchasing an additional 121 shares during the period. Smithfield Trust Co increased its stake in shares of Fortune Brands Innovations by 4.6% during the third quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock worth $271,000 after buying an additional 133 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in shares of Fortune Brands Innovations by 1.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock worth $556,000 after purchasing an additional 138 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Fortune Brands Innovations by 5.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock worth $222,000 after buying an additional 156 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Fortune Brands Innovations by 11.2% during the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after acquiring an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 0.8 %

Shares of NYSE:FBIN opened at $65.77 on Thursday. The firm has a 50 day simple moving average of $69.86 and a 200 day simple moving average of $77.32. The company has a market cap of $8.17 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 2.00 and a beta of 1.50. 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 0.90, a quick ratio of 0.65 and a current ratio of 1.25.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly 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 return on equity of 22.05% and a net margin of 10.24%. As a group, research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.52%. The ex-dividend date 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 presently 26.67%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group cut their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada reduced their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group reduced their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Robert W. Baird cut their target price on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Evercore ISI dropped their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $86.64.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

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.