Deutsche Bank AG Sells 25,332 Shares of Fortune Brands Innovations, Inc. $FBIN

Key Points

• Deutsche Bank AG reduced its stake in Fortune Brands Innovations by 9.0% during the first quarter, holding approximately 254,845 shares worth $15.5 million.
• Fortune Brands Innovations reported $1.00 EPS for the last quarter, surpassing analysts' expectations of $0.98, with a revenue of $1.20 billion.
• The company declared a quarterly dividend of $0.25 per share, representing an annual yield of 1.7%, to be paid on September 10th.

Deutsche Bank AG trimmed its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 9.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,845 shares of the company's stock after selling 25,332 shares during the period. Deutsche Bank AG owned 0.21% of Fortune Brands Innovations worth $15,515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FBIN. von Borstel & Associates Inc. purchased a new stake in shares of Fortune Brands Innovations in the 1st quarter worth $26,000. CX Institutional purchased a new stake in Fortune Brands Innovations in the 1st quarter worth $29,000. Alpine Bank Wealth Management purchased a new stake in Fortune Brands Innovations in the 1st quarter worth $62,000. Raleigh Capital Management Inc. increased its stake in Fortune Brands Innovations by 28.2% in the 1st quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock worth $62,000 after buying an additional 224 shares in the last quarter. Finally, Siemens Fonds Invest GmbH purchased a new stake in Fortune Brands Innovations in the 4th quarter worth $76,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock traded up $1.4550 during trading on Tuesday, reaching $60.3350. 281,203 shares of the stock traded hands, compared to its average volume of 2,013,702. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 18.97, a P/E/G ratio of 4.03 and a beta of 1.32. The business has a fifty day simple moving average of $54.04 and a two-hundred day simple moving average of $56.63. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm earned $1.16 EPS. The firm's revenue for the quarter 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. Sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 31.45%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FBIN shares. Truist Financial set a $65.00 price target on Fortune Brands Innovations in a research note on Wednesday, May 7th. Loop Capital reiterated a "hold" rating and issued a $61.00 price target (up previously from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Robert W. Baird cut their price target on 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. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. 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 research note on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $75.91.

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.