4,391 Shares in Fortune Brands Innovations, Inc. $FBIN Bought by EntryPoint Capital LLC

Key Points

• EntryPoint Capital LLC has acquired 4,391 shares of Fortune Brands Innovations, Inc. (NYSE:FBIN), valued at approximately $267,000, as per their Form 13F filing.
• Fortune Brands Innovations recently reported a quarterly EPS of $1.00, exceeding estimates, despite a 3% year-over-year revenue decline.
• Analysts show mixed sentiments with six rating the stock as a Buy while five assigned a Hold rating, with a consensus target price set at $75.91.

EntryPoint Capital LLC acquired a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,391 shares of the company's stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FBIN. von Borstel & Associates Inc. acquired a new stake in Fortune Brands Innovations in the 1st quarter valued at about $26,000. National Pension Service boosted its position in 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 period. CX Institutional purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter worth $29,000. Alpine Bank Wealth Management purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter worth $62,000. Finally, Raleigh Capital Management Inc. lifted its position in Fortune Brands Innovations by 28.2% in the first quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock valued at $62,000 after acquiring an additional 224 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fortune Brands Innovations

In related 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 value of $1,758,919.68. Following the completion of the transaction, the chief executive officer directly owned 180,625 shares in the company, valued at approximately $10,664,100. This represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $59.00 to $65.00 in a research note on Friday, August 1st. Truist Financial reiterated a "hold" rating and issued a $60.00 price objective (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Robert W. Baird cut their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Loop Capital restated a "hold" rating and set a $61.00 price target (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $75.45.

Fortune Brands Innovations Stock Down 1.4%

Shares of FBIN traded down $0.84 during mid-day trading on Thursday, hitting $58.67. 278,847 shares of the company's stock were exchanged, compared to its average volume of 1,986,081. The firm has a fifty day moving average of $55.23 and a two-hundred day moving average of $56.34. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $90.54. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 4.11 and a beta of 1.32. 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 (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. Fortune Brands Innovations's quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is currently 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.