Arvest Investments Inc. Has $990,000 Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Arvest Investments Inc. decreased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 13.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 16,263 shares of the company’s stock after selling 2,628 shares during the period. Arvest Investments Inc.’s holdings in Fortune Brands Innovations were worth $990,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Fortune Brands Innovations during the 4th quarter worth $101,122,000. Amundi boosted its holdings in shares of Fortune Brands Innovations by 166.8% during the 4th quarter. Amundi now owns 2,306,864 shares of the company’s stock worth $157,953,000 after buying an additional 1,442,195 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Fortune Brands Innovations by 63.0% during the 4th quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company’s stock worth $196,153,000 after buying an additional 1,110,021 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Fortune Brands Innovations during the 4th quarter worth $59,970,000. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Fortune Brands Innovations by 1,530.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 775,093 shares of the company’s stock worth $52,962,000 after buying an additional 727,550 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on FBIN shares. Royal Bank of Canada decreased their price objective on shares of 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. Wall Street Zen raised shares of Fortune Brands Innovations from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Truist Financial set a $65.00 price target on shares of Fortune Brands Innovations in a report on Wednesday, May 7th. Barclays reduced their price target on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Finally, UBS Group reduced their price target on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” 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 given 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 Trading Down 0.2%

Shares of FBIN stock opened at $51.73 on Friday. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.54. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 2.00 and a beta of 1.38. 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 firm has a fifty day moving average of $52.14 and a 200-day moving average of $63.01.

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

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Tuesday, May 27th. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 29.33%.

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.