Select Equity Group L.P. Has $514.99 Million Stock Holdings in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Select Equity Group L.P. reduced its holdings in Fortune Brands Innovations, Inc. by 1.0%, owning approximately 8.46 million shares valued at $515 million as of their latest SEC filing.
• Fortune Brands Innovations reported a quarterly earnings beat, with earnings per share (EPS) of $1.00, surpassing the consensus estimate of $0.98, although revenue decreased by 3.0% year-over-year.
• The company declared a quarterly dividend of $0.25, translating to a $1.00 annualized dividend and a dividend yield of 1.6%, with a payout ratio currently at 31.45%.

Select Equity Group L.P. decreased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 1.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 8,459,134 shares of the company's stock after selling 82,710 shares during the period. Fortune Brands Innovations comprises 2.2% of Select Equity Group L.P.'s portfolio, making the stock its 17th biggest position. Select Equity Group L.P. owned about 7.03% of Fortune Brands Innovations worth $514,992,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in Fortune Brands Innovations by 113.5% in the 1st quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company's stock valued at $373,079,000 after acquiring an additional 3,257,428 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Fortune Brands Innovations by 9.2% in the 1st quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company's stock valued at $295,598,000 after acquiring an additional 409,466 shares in the last quarter. Amundi lifted its stake in Fortune Brands Innovations by 24.1% in the 1st quarter. Amundi now owns 2,861,900 shares of the company's stock valued at $169,975,000 after acquiring an additional 555,036 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Fortune Brands Innovations by 22.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,351,110 shares of the company's stock valued at $143,130,000 after acquiring an additional 426,929 shares in the last quarter. Finally, Fiduciary Management Inc. WI lifted its stake in Fortune Brands Innovations by 12.8% in the 1st quarter. Fiduciary Management Inc. WI now owns 2,291,860 shares of the company's stock valued at $139,528,000 after acquiring an additional 260,218 shares in the last quarter. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock traded down $1.91 during trading on Tuesday, reaching $58.83. 1,476,677 shares of the company's stock were exchanged, compared to its average volume of 1,432,395. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $7.06 billion, a PE ratio of 18.50, a PEG ratio of 4.17 and a beta of 1.32. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $90.54. The firm's fifty day moving average price is $56.58 and its 200-day moving average price is $55.69.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.02. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The firm's revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be issued a dividend of $0.25 per share. 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 payout ratio is presently 31.45%.

Insider Buying and Selling at Fortune Brands Innovations

In related news, CEO Nicholas I. Fink sold 29,792 shares of the business's stock in a transaction that occurred 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 directly owned 180,625 shares of the company's stock, valued at approximately $10,664,100. The trade was a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on FBIN. Barclays boosted their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Truist Financial reaffirmed a "hold" rating and set a $60.00 price target (down previously from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Royal Bank Of Canada raised Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, UBS Group boosted their price target on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average 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.