Landscape Capital Management L.L.C. Lowers Stake in Fortune Brands Innovations, Inc. $FBIN

Landscape Capital Management L.L.C. lowered its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 39.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 36,058 shares of the company’s stock after selling 23,486 shares during the period. Landscape Capital Management L.L.C.’s holdings in Fortune Brands Innovations were worth $1,804,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Arax Advisory Partners lifted its holdings in Fortune Brands Innovations by 51.8% during the fourth quarter. Arax Advisory Partners now owns 7,181 shares of the company’s stock valued at $359,000 after purchasing an additional 2,449 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Fortune Brands Innovations by 19.3% in the fourth quarter. Brown Advisory Inc. now owns 18,674 shares of the company’s stock worth $934,000 after buying an additional 3,015 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in shares of Fortune Brands Innovations in the fourth quarter worth $146,000. Kestra Advisory Services LLC purchased a new position in shares of Fortune Brands Innovations in the fourth quarter worth $184,000. Finally, Rafferty Asset Management LLC lifted its holdings in shares of Fortune Brands Innovations by 16.6% in the fourth quarter. Rafferty Asset Management LLC now owns 113,156 shares of the company’s stock worth $5,660,000 after buying an additional 16,093 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Insiders Place Their Bets

In other Fortune Brands Innovations news, Director Edward P. Garden purchased 320,067 shares of Fortune Brands Innovations stock in a transaction that occurred on Wednesday, June 10th. The shares were bought at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the completion of the transaction, the director owned 3,940,234 shares of the company’s stock, valued at approximately $159,973,500.40. This trade represents a 8.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired a total of 786,367 shares of company stock valued at $28,653,958 in the last quarter. Insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on FBIN. Robert W. Baird set a $44.00 target price on shares of Fortune Brands Innovations in a report on Friday, May 8th. Bank of America lowered their target price on shares of Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. UBS Group lowered their target price on shares of Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Friday, May 29th. Finally, Royal Bank Of Canada lowered their target price on shares of Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of “Hold” and an average target price of $51.31.

Fortune Brands Innovations Trading Down 0.6%

Shares of FBIN opened at $42.98 on Tuesday. The company’s fifty day moving average is $39.07 and its 200 day moving average is $47.14. Fortune Brands Innovations, Inc. has a fifty-two week low of $32.34 and a fifty-two week high of $64.84. The stock has a market capitalization of $5.13 billion, a PE ratio of 19.10, a P/E/G ratio of 2.79 and a beta of 1.37. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 2.13.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. Fortune Brands Innovations’s quarterly revenue was down 2.1% on a year-over-year basis. Sell-side analysts expect that Fortune Brands Innovations, Inc. will post 3.13 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 22nd were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, May 22nd. Fortune Brands Innovations’s payout ratio is currently 46.22%.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.