Scientech Research LLC Invests $879,000 in Fortune Brands Innovations, Inc. $FBIN

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

A number of other institutional investors also recently added to or reduced their stakes in FBIN. Wellington Management Group LLP lifted its stake in Fortune Brands Innovations by 113.5% in the first quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company's stock worth $373,079,000 after acquiring an additional 3,257,428 shares during the last quarter. Generation Investment Management LLP purchased a new position in Fortune Brands Innovations in the first quarter worth approximately $98,157,000. Orbis Allan Gray Ltd purchased a new position in Fortune Brands Innovations in the first quarter worth approximately $46,464,000. Amundi lifted its stake in Fortune Brands Innovations by 24.1% in the first quarter. Amundi now owns 2,861,900 shares of the company's stock worth $169,975,000 after acquiring an additional 555,036 shares during the last quarter. Finally, First Pacific Advisors LP lifted its stake in Fortune Brands Innovations by 220.8% in the first quarter. First Pacific Advisors LP now owns 792,517 shares of the company's stock worth $48,248,000 after acquiring an additional 545,499 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Performance

FBIN stock traded down $1.31 on Friday, hitting $59.44. The company's stock had a trading volume of 1,909,758 shares, compared to its average volume of 1,369,917. The firm has a 50 day moving average of $56.93 and a two-hundred day moving average of $55.56. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $90.54. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 4.17 and a beta of 1.32. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. Fortune Brands Innovations's revenue for the quarter was down 3.0% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Equities analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FBIN shares. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Loop Capital restated a "hold" rating and set a $61.00 price objective (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. UBS Group boosted their price objective on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Truist Financial restated a "hold" rating and set 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, Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of "Hold" and a consensus target price of $75.45.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 29,792 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $59.04, for a total value of $1,758,919.68. Following the transaction, the chief executive officer directly owned 180,625 shares of the company's stock, valued at approximately $10,664,100. The trade was a 14.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company's stock.

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.