Baldwin Wealth Partners LLC MA Trims Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

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

Several other institutional investors also recently added to or reduced their stakes in FBIN. Man Group plc acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at $344,000. Charles Schwab Investment Management Inc. increased its stake in Fortune Brands Innovations by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock valued at $59,094,000 after purchasing an additional 11,722 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $40,027,000. Two Sigma Investments LP acquired a new stake in shares of Fortune Brands Innovations during the fourth quarter worth about $1,442,000. Finally, M&T Bank Corp boosted its stake in shares of Fortune Brands Innovations by 41.9% during the fourth quarter. M&T Bank Corp now owns 23,591 shares of the company’s stock worth $1,612,000 after buying an additional 6,971 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a “hold” rating and a $70.00 price objective for the company. Barclays lowered their price objective on shares of 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. Wall Street Zen upgraded shares of Fortune Brands Innovations from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. UBS Group lowered their target price on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, Robert W. Baird cut their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $77.17.

Fortune Brands Innovations Stock Up 0.3%

FBIN opened at $51.24 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 2.00 and a beta of 1.38. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54. The business’s fifty day moving average is $52.39 and its two-hundred day moving average is $63.53.

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

Fortune Brands Innovations Announces Dividend

The business also recently disclosed 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 dividend payout ratio is currently 29.33%.

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.