240,791 Shares in Fortune Brands Innovations, Inc. $FBIN Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired 240,791 shares of Fortune Brands Innovations, Inc., valued at approximately $14.66 million, representing about 0.20% ownership as of the latest report.
• Analysts have positive projections for Fortune Brands Innovations, with multiple firms boosting target prices; UBS Group raised its price target from $82.00 to $83.00 and Woods & Capital repeated a "hold" rating with a new target of $61.00.
• The company has announced a quarterly dividend of $0.25 per share, payable on September 10th, which reflects a 1.7% yield and a dividend payout ratio of 31.45%.

Nuveen LLC acquired a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 240,791 shares of the company's stock, valued at approximately $14,659,000. Nuveen LLC owned approximately 0.20% of Fortune Brands Innovations at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new position in Fortune Brands Innovations during the 1st quarter worth approximately $26,000. CX Institutional bought a new stake in Fortune Brands Innovations during the 1st quarter worth approximately $29,000. Alpine Bank Wealth Management bought a new stake in Fortune Brands Innovations during the 1st quarter worth approximately $62,000. Raleigh Capital Management Inc. grew its holdings in Fortune Brands Innovations by 28.2% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock worth $62,000 after acquiring an additional 224 shares during the last quarter. Finally, Siemens Fonds Invest GmbH bought a new stake in Fortune Brands Innovations during the 4th quarter worth approximately $76,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FBIN. UBS Group boosted their target price on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Loop Capital reissued a "hold" rating and set a $61.00 target price (up from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Barclays boosted their target price on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Royal Bank Of Canada raised shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $59.00 to $65.00 in a report on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $75.91.

Insider Transactions at Fortune Brands Innovations

In related news, CEO Nicholas I. Fink sold 29,792 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $59.04, for a total transaction of $1,758,919.68. Following the transaction, the chief executive officer directly owned 180,625 shares of the company's stock, valued at $10,664,100. This represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Fortune Brands Innovations Trading Down 3.6%

NYSE:FBIN opened at $57.7290 on Thursday. The firm's fifty day moving average is $54.30 and its 200-day moving average is $56.66. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 1.97. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The firm has a market cap of $6.93 billion, a P/E ratio of 18.15, a P/E/G ratio of 4.11 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.00 EPS for the quarter, beating 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 company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm posted $1.16 EPS. The company's quarterly revenue 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 expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.00 annualized dividend and a yield of 1.7%. Fortune Brands Innovations's dividend payout ratio is currently 31.45%.

About Fortune Brands Innovations

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.

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