Baird Financial Group Inc. Grows Stake in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Baird Financial Group Inc. increased its stake in Fortune Brands Innovations, Inc. by 61.2% in the first quarter, acquiring 4,373 additional shares and bringing its total holdings to 11,517 shares, valued at approximately $701,000.
• Several other institutional investors also made significant moves in the company, with Landscape Capital Management L.L.C. raising its position by 598.3% during the same period, reflecting strong institutional interest in Fortune Brands.
• Fortune Brands Innovations announced a quarterly dividend of $0.25 per share, projected to yield 1.7% annually, with the payment to occur on September 10th for stockholders of record as of August 22nd.

Baird Financial Group Inc. raised its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 61.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,517 shares of the company's stock after purchasing an additional 4,373 shares during the period. Baird Financial Group Inc.'s holdings in Fortune Brands Innovations were worth $701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in Fortune Brands Innovations in the first quarter valued at $267,000. Man Group plc bought a new stake in Fortune Brands Innovations in the fourth quarter valued at $344,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Fortune Brands Innovations by 8.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 271,928 shares of the company's stock valued at $16,555,000 after purchasing an additional 20,206 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Fortune Brands Innovations in the first quarter valued at $1,106,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Fortune Brands Innovations by 15.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,537 shares of the company's stock valued at $763,000 after purchasing an additional 1,660 shares in the last quarter. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Stock Down 1.2%

FBIN stock traded down $0.72 during trading on Monday, reaching $58.56. The stock had a trading volume of 1,189,021 shares, compared to its average volume of 1,388,097. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The company's 50 day moving average is $57.06 and its two-hundred day moving average is $55.45. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 4.07 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $1.19 billion. During the same period in the prior year, the firm posted $1.16 EPS. The firm'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. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a research note 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 research report on Monday, August 4th. Wall Street Zen raised shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. 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 research report on Friday, August 1st. Finally, Truist Financial reissued a "hold" rating and set a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $75.45.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $58.72, for a total value of $89,371.84. Following the transaction, the chief executive officer directly owned 97,139 shares in the company, valued at $5,704,002.08. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company's stock.

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.