Fortune Brands Innovations, Inc. $FBIN Shares Sold by American Century Companies Inc.

Key Points

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American Century Companies Inc. trimmed its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 947,462 shares of the company's stock after selling 78,829 shares during the period. American Century Companies Inc. owned approximately 0.79% of Fortune Brands Innovations worth $57,682,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. von Borstel & Associates Inc. purchased a new position in shares of Fortune Brands Innovations in the 1st quarter valued at $26,000. National Pension Service grew its position in shares of Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company's stock valued at $28,000 after buying an additional 199 shares during the last quarter. CX Institutional purchased a new position in shares of Fortune Brands Innovations in the 1st quarter valued at $29,000. Raleigh Capital Management Inc. grew its position in shares of Fortune Brands Innovations by 28.2% in the 1st quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock valued at $62,000 after buying an additional 224 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in shares of Fortune Brands Innovations in the 1st quarter valued at $62,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fortune Brands Innovations

In other news, CEO Nicholas I. Fink sold 1,522 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $58.72, for a total value of $89,371.84. Following the completion of the sale, the chief executive officer owned 97,139 shares in the company, valued at approximately $5,704,002.08. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on FBIN shares. Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th. UBS Group increased their target price on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, August 1st. 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 reiterated a "hold" rating and set a $61.00 price target (up previously from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Finally, Robert W. Baird decreased their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. 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, Fortune Brands Innovations presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.91.

Fortune Brands Innovations Stock Performance

NYSE:FBIN traded up $4.0250 during trading hours on Friday, reaching $61.5050. 1,868,188 shares of the company's stock were exchanged, compared to its average volume of 1,988,147. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 4.22 and a beta of 1.32. The company has a 50-day moving average of $54.64 and a 200 day moving average of $56.35. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share 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 firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the business earned $1.16 EPS. Fortune Brands Innovations's quarterly revenue 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. Research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is 31.45%.

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.