Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Baldwin Wealth Partners LLC MA

Baldwin Wealth Partners LLC MA trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,027 shares of the company’s stock after selling 350 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in Fortune Brands Innovations were worth $428,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new stake in Fortune Brands Innovations during the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Fortune Brands Innovations during the 4th quarter worth approximately $55,000. IFP Advisors Inc raised its holdings in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after buying an additional 275 shares during the period. Siemens Fonds Invest GmbH acquired a new position in Fortune Brands Innovations during the fourth quarter valued at approximately $76,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $82,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $51.24 on Monday. The firm has a fifty day moving average of $52.39 and a two-hundred day moving average of $63.53. The firm has a market cap of $6.16 billion, a P/E ratio of 13.66, a P/E/G ratio of 2.00 and a beta of 1.38. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. As a group, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th will be given a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.95%. Fortune Brands Innovations’s payout ratio is 29.33%.

Analysts Set New Price Targets

FBIN has been the subject of several recent research reports. Royal Bank of Canada lowered their price target on Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating for the company in a report on Wednesday, May 7th. Barclays reduced their price target on Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. UBS Group lowered their price objective on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th. Finally, Robert W. Baird decreased their target price on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $77.17.

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.