UBS Group AG Has $14.40 Million Stake in Fortune Brands Innovations, Inc. $FBIN

UBS Group AG decreased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 31.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 287,881 shares of the company’s stock after selling 132,507 shares during the period. UBS Group AG’s holdings in Fortune Brands Innovations were worth $14,400,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Assetmark Inc. increased its holdings in shares of Fortune Brands Innovations by 1.2% during the 4th quarter. Assetmark Inc. now owns 17,728 shares of the company’s stock valued at $887,000 after acquiring an additional 208 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Fortune Brands Innovations by 8.3% during the 3rd quarter. UMB Bank n.a. now owns 2,794 shares of the company’s stock valued at $149,000 after acquiring an additional 215 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Fortune Brands Innovations by 1.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 21,341 shares of the company’s stock valued at $1,139,000 after acquiring an additional 219 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Fortune Brands Innovations by 11.3% during the 3rd quarter. Fifth Third Bancorp now owns 2,166 shares of the company’s stock valued at $116,000 after acquiring an additional 220 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Fortune Brands Innovations by 0.6% during the 3rd quarter. Arizona State Retirement System now owns 35,587 shares of the company’s stock valued at $1,900,000 after acquiring an additional 222 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN opened at $35.84 on Thursday. The business has a 50 day moving average price of $40.81 and a 200 day moving average price of $48.80. Fortune Brands Innovations, Inc. has a twelve month low of $35.12 and a twelve month high of $64.84. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 2.31 and a beta of 1.40. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Research analysts predict that Fortune Brands Innovations, Inc. will post 3.19 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be given a $0.26 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.9%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 46.22%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Zelman & Associates downgraded Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a research note on Friday, February 13th. Zacks Research downgraded Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Bank of America decreased their target price on Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating for the company in a research note on Monday, April 20th. Robert W. Baird set a $44.00 target price on Fortune Brands Innovations in a research note on Friday, May 8th. Finally, The Goldman Sachs Group decreased their target price on Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $52.33.

Fortune Brands Innovations 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.