Amundi Has $169.98 Million Holdings in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Amundi increased its stake in Fortune Brands Innovations, Inc. by 24.1%, now owning 2,861,900 shares valued at approximately $169.98 million.
• CEO Nicholas I. Fink sold 29,792 shares of the company, resulting in a 14.16% decrease in his position, valued at around $10.66 million post-sale.
• Analysts have issued mixed ratings for FBIN, with a consensus rating of "Hold" and an average target price of $75.45.

Amundi increased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 24.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,861,900 shares of the company's stock after acquiring an additional 555,036 shares during the period. Amundi owned approximately 2.38% of Fortune Brands Innovations worth $169,975,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FBIN. EntryPoint Capital LLC acquired a new stake in Fortune Brands Innovations during the first quarter worth approximately $267,000. Man Group plc acquired a new position in Fortune Brands Innovations during the 4th quarter worth approximately $344,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Fortune Brands Innovations by 8.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 271,928 shares of the company's stock worth $16,555,000 after buying an additional 20,206 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Fortune Brands Innovations in the first quarter worth about $1,106,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings 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 acquiring an additional 1,660 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

Fortune Brands Innovations Stock Up 0.4%

NYSE:FBIN traded up $0.23 during trading hours on Wednesday, reaching $58.98. The company's stock had a trading volume of 251,389 shares, compared to its average volume of 1,961,672. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 4.17 and a beta of 1.32. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54. The business's 50-day moving average is $56.58 and its 200-day moving average is $55.69. 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 (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (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 company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company posted $1.16 EPS. The firm's revenue 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. Equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced 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. The ex-dividend date 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 payout ratio is presently 31.45%.

Analysts Set New Price Targets

FBIN has been the topic of a number of research reports. 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 report on Wednesday, August 27th. Loop Capital reaffirmed a "hold" rating and set a $61.00 target price (up from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. UBS Group lifted their target price on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Barclays lifted their price objective on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Fortune Brands Innovations currently has a consensus rating of "Hold" and an average target price of $75.45.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $58.72, for a total value of $89,371.84. Following the completion of the sale, the chief executive officer owned 97,139 shares of the company's stock, valued at approximately $5,704,002.08. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.

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.