Mutual of America Capital Management LLC Has $6.01 Million Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Mutual of America Capital Management LLC trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 67,075 shares of the company’s stock after selling 4,539 shares during the period. Mutual of America Capital Management LLC’s holdings in Fortune Brands Innovations were worth $6,005,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its position in Fortune Brands Innovations by 20.7% during the third quarter. Natixis Advisors LLC now owns 58,728 shares of the company’s stock worth $5,258,000 after buying an additional 10,069 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Fortune Brands Innovations by 5.8% in the third quarter. Empowered Funds LLC now owns 8,224 shares of the company’s stock valued at $736,000 after buying an additional 452 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Fortune Brands Innovations by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after acquiring an additional 121 shares during the period. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter worth approximately $241,000. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in Fortune Brands Innovations by 5.5% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,041 shares of the company’s stock valued at $451,000 after acquiring an additional 261 shares during the period. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Stock Performance

FBIN opened at $73.56 on Wednesday. The firm has a market cap of $9.14 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 2.37 and a beta of 1.51. The business’s fifty day moving average is $84.62 and its 200-day moving average is $76.46. 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.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period last year, the firm earned $1.19 EPS. Sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is presently 27.04%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group lifted their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Truist Financial upped their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays raised their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Robert W. Baird decreased their target price on 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. Finally, The Goldman Sachs Group increased their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and a consensus target price of $91.36.

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.