Ceredex Value Advisors LLC Buys 46,000 Shares of Fortune Brands Innovations, Inc. $FBIN

Key Points

• Ceredex Value Advisors LLC has increased its stake in Fortune Brands Innovations, Inc. by 24.6%, owning 232,750 shares valued at approximately $14.17 million.
• The company reported $1.00 earnings per share for the last quarter, surpassing analysts' expectations and setting its FY 2025 guidance at 3.750-3.950 EPS.
• A quarterly dividend of $0.25 per share will be paid on September 10th, representing an annualized dividend yield of 1.7%.

Ceredex Value Advisors LLC grew its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 24.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,750 shares of the company's stock after buying an additional 46,000 shares during the quarter. Ceredex Value Advisors LLC owned approximately 0.19% of Fortune Brands Innovations worth $14,170,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in shares of Fortune Brands Innovations during the 1st quarter worth about $267,000. Man Group plc bought a new stake in Fortune Brands Innovations in the 4th quarter valued at about $344,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of 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 buying an additional 20,206 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Fortune Brands Innovations during the 1st quarter worth $1,106,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Fortune Brands Innovations by 15.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,537 shares of the company's stock worth $763,000 after acquiring an additional 1,660 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

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 transaction 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Fortune Brands Innovations Stock Performance

NYSE:FBIN traded down $0.59 during trading on Thursday, reaching $58.92. The company's stock had a trading volume of 1,038,927 shares, compared to its average volume of 1,902,328. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 4.08 and a beta of 1.32. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 1.97. The firm has a 50 day moving average of $55.42 and a 200-day moving average of $56.27. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54.

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

Fortune Brands Innovations Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FBIN shares. UBS Group raised their target price on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a report on Friday, August 1st. Truist Financial reiterated a "hold" rating and issued a $60.00 price objective (down previously from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $59.00 to $65.00 in a research report on Friday, August 1st. Loop Capital reissued a "hold" rating and set a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Finally, Barclays increased their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $75.45.

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.