14,431 Shares in Fortune Brands Innovations, Inc. $FBIN Acquired by Scientech Research LLC

Scientech Research LLC acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,431 shares of the company's stock, valued at approximately $879,000.

A number of other hedge funds have also modified their holdings of the company. Townsquare Capital LLC increased its holdings in shares of Fortune Brands Innovations by 3.3% in the first quarter. Townsquare Capital LLC now owns 6,236 shares of the company's stock valued at $380,000 after purchasing an additional 197 shares during the period. National Pension Service lifted its position in Fortune Brands Innovations by 74.5% during the first quarter. National Pension Service now owns 466 shares of the company's stock valued at $28,000 after purchasing an additional 199 shares during the period. Baker Ellis Asset Management LLC lifted its position in Fortune Brands Innovations by 0.4% during the first quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company's stock valued at $3,750,000 after purchasing an additional 219 shares during the period. Raleigh Capital Management Inc. lifted its position in Fortune Brands Innovations by 28.2% during the first quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock valued at $62,000 after purchasing an additional 224 shares during the period. Finally, HB Wealth Management LLC lifted its position in Fortune Brands Innovations by 6.2% during the first quarter. HB Wealth Management LLC now owns 4,220 shares of the company's stock valued at $257,000 after purchasing an additional 247 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Price Performance

FBIN stock traded down $1.04 during trading on Friday, hitting $59.71. The stock had a trading volume of 899,654 shares, compared to its average volume of 1,959,643. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $90.54. The stock has a market capitalization of $7.17 billion, a P/E ratio of 18.78, a PEG ratio of 4.03 and a beta of 1.32. The company's 50-day moving average price is $56.81 and its two-hundred day moving average price is $55.68.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.02. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm earned $1.16 earnings per share. The company's revenue for the quarter was down 3.0% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio is 31.45%.

Wall Street Analyst Weigh In

FBIN has been the subject of a number of research reports. 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. Barclays boosted their target price on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Royal Bank Of Canada upgraded Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Truist Financial restated a "hold" rating and issued a $60.00 price objective (down previously from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Finally, Loop Capital restated a "hold" rating and issued a $61.00 price objective (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Fortune Brands Innovations presently has an average rating of "Hold" and an average price target of $75.45.

Insider Activity at Fortune Brands Innovations

In other news, CEO Nicholas I. Fink sold 29,792 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $59.04, for a total value of $1,758,919.68. Following the transaction, the chief executive officer owned 180,625 shares of the company's stock, valued at $10,664,100. This represents a 14.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

Fortune Brands Innovations Company 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.