Dimensional Fund Advisors LP Increases Holdings in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Dimensional Fund Advisors LP increased its stake in Fortune Brands Innovations by 22.2% in Q1, owning 2,351,110 shares valued at approximately $143.1 million.
• Fortune Brands Innovations reported $1.00 EPS for the last quarter, which surpassed analysts' expectations, while posting a revenue of $1.20 billion.
• The company declared a quarterly dividend of $0.25 per share, translating to an annualized dividend of $1.00 and a yield of 1.7%.

Dimensional Fund Advisors LP grew its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 22.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,351,110 shares of the company's stock after acquiring an additional 426,929 shares during the quarter. Dimensional Fund Advisors LP owned about 1.96% of Fortune Brands Innovations worth $143,130,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Townsquare Capital LLC lifted its position in Fortune Brands Innovations by 3.3% during the first quarter. Townsquare Capital LLC now owns 6,236 shares of the company's stock worth $380,000 after buying an additional 197 shares in the last quarter. National Pension Service lifted its position in Fortune Brands Innovations by 74.5% during the first quarter. National Pension Service now owns 466 shares of the company's stock worth $28,000 after buying an additional 199 shares in the last quarter. Baker Ellis Asset Management LLC lifted its position in Fortune Brands Innovations by 0.4% during the first quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company's stock worth $3,750,000 after buying an additional 219 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in Fortune Brands Innovations by 28.2% during the first 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, HB Wealth Management LLC lifted its position in Fortune Brands Innovations by 6.2% during the first quarter. HB Wealth Management LLC now owns 4,220 shares of the company's stock worth $257,000 after buying an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Insider Buying and Selling

In related news, CEO Nicholas I. Fink sold 29,792 shares of the business'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 completion of the transaction, the chief executive officer directly owned 180,625 shares of the company's stock, valued at $10,664,100. The trade was a 14.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FBIN has been the topic of a number of analyst reports. Robert W. Baird reduced their price objective on 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. 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 note on Monday, August 4th. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Barclays lifted their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Truist Financial set a $65.00 price objective on Fortune Brands Innovations in a research note on Wednesday, May 7th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $75.91.

Fortune Brands Innovations Stock Up 0.1%

FBIN traded up $0.04 on Tuesday, hitting $59.91. 1,423,282 shares of the company were exchanged, compared to its average volume of 1,969,240. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $90.54. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 4.11 and a beta of 1.32. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average price of $55.03 and a two-hundred day moving average price of $56.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its 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. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the firm posted $1.16 EPS. Fortune Brands Innovations's revenue for the quarter was down 3.0% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, equities analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 22nd. Fortune Brands Innovations's payout ratio is presently 31.45%.

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.