Northwestern Mutual Wealth Management Co. Grows Stock Holdings in Fortune Brands Innovations, Inc. $FBIN

Northwestern Mutual Wealth Management Co. boosted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2,071.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 147,689 shares of the company’s stock after acquiring an additional 140,888 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Fortune Brands Innovations were worth $7,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FBIN. Assetmark Inc. grew its stake 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 buying an additional 208 shares during the period. UMB Bank n.a. grew its stake 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 buying an additional 215 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake 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 buying an additional 219 shares during the period. Fifth Third Bancorp grew its stake 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 buying an additional 220 shares during the period. Finally, Arizona State Retirement System grew its stake 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 buying an additional 222 shares during the period. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $37.64 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.34 and a beta of 1.40. The firm’s fifty day simple moving average is $39.09 and its 200 day simple moving average is $48.06. Fortune Brands Innovations, Inc. has a twelve month low of $32.34 and a twelve month high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last posted 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. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 EPS. As a group, equities research analysts expect that Fortune Brands Innovations, Inc. will post 3.14 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, May 22nd. This represents a $1.04 annualized dividend and a dividend yield of 2.8%. Fortune Brands Innovations’s payout ratio is presently 46.22%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FBIN. Wolfe Research set a $64.00 price objective on shares of Fortune Brands Innovations in a research note on Friday, February 13th. Zacks Research cut shares of Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Truist Financial lowered their price objective on shares of Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Robert W. Baird set a $44.00 price objective on shares of Fortune Brands Innovations in a research note on Friday, May 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of 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, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average target price of $51.31.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Edward P. Garden bought 403,000 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $33.40 per share, for a total transaction of $13,460,200.00. Following the acquisition, the director owned 3,556,867 shares of the company’s stock, valued at $118,799,357.80. The trade was a 12.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have acquired 466,300 shares of company stock worth $15,659,238. Insiders own 3.32% of the company’s stock.

Fortune Brands Innovations Company 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.