Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 3,900 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 22.6% in the fourth quarter, HoldingsChannel reports. The firm owned 13,354 shares of the company’s stock after selling 3,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Fortune Brands Innovations were worth $912,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in Fortune Brands Innovations in the 3rd quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new stake in Fortune Brands Innovations in the 4th quarter worth about $55,000. Darwin Wealth Management LLC bought a new stake in Fortune Brands Innovations in the 3rd quarter worth about $81,000. Blue Trust Inc. grew its position in Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after purchasing an additional 219 shares in the last quarter. Finally, Asset Planning Inc bought a new stake in Fortune Brands Innovations in the 4th quarter worth about $100,000. 87.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the sale, the executive vice president now directly owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $65.77 on Thursday. The stock has a market capitalization of $8.17 billion, a P/E ratio of 17.54, a PEG ratio of 2.00 and a beta of 1.50. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The firm’s 50 day moving average is $69.86 and its 200 day moving average is $77.32. Fortune Brands Innovations, Inc. has a 12 month low of $62.54 and a 12 month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.25 per share. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is presently 26.67%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FBIN shares. Barclays reduced their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Robert W. Baird dropped their target price on shares of 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. The Goldman Sachs Group dropped their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada dropped their target price on shares of 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. Finally, UBS Group dropped their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Six research 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, the company currently has a consensus rating of “Hold” and a consensus price target of $86.64.

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.