Landscape Capital Management L.L.C. Purchases 86,861 Shares of Fortune Brands Innovations, Inc. $FBIN

Key Points

• Landscape Capital Management increased its stake in Fortune Brands Innovations by 598.3%, acquiring a total of 101,378 shares worth approximately $6.17 million.
• Fortune Brands Innovations reported earnings of $1.00 per share for the last quarter, surpassing analyst estimates of $0.98, although revenue decreased by 3.0% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, translating to an annualized yield of 1.7%, with a payout ratio of 31.45%.

Landscape Capital Management L.L.C. boosted its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 598.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,378 shares of the company's stock after purchasing an additional 86,861 shares during the period. Landscape Capital Management L.L.C. owned 0.08% of Fortune Brands Innovations worth $6,172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FBIN. Wellington Management Group LLP grew its holdings in shares of Fortune Brands Innovations by 113.5% during 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. grew its holdings in shares of Fortune Brands Innovations by 9.2% during 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. Dimensional Fund Advisors LP grew its holdings in shares of Fortune Brands Innovations by 22.2% during 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. Fiduciary Management Inc. WI grew its holdings in shares of Fortune Brands Innovations by 12.8% during 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. Finally, Northern Trust Corp boosted its holdings in Fortune Brands Innovations by 3.3% in the first quarter. Northern Trust Corp now owns 1,338,867 shares of the company's stock worth $81,510,000 after purchasing an additional 43,164 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

NYSE:FBIN traded down $0.38 during mid-day trading on Monday, hitting $58.56. The company's stock had a trading volume of 835,146 shares, compared to its average volume of 1,644,448. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.54. 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 company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 4.02 and a beta of 1.32. The stock has a fifty day moving average of $55.59 and a 200-day moving average of $56.03.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted 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 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 analyst estimates of $1.19 billion. During the same quarter in the prior year, the business posted $1.16 earnings per share. The company's quarterly revenue 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. As a group, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

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 given a $0.25 dividend. 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 dividend payout ratio is 31.45%.

Analyst Ratings Changes

A number of brokerages recently issued reports on FBIN. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $59.00 to $65.00 in a research report on Friday, August 1st. Robert W. Baird cut their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. UBS Group upped their price objective on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Barclays upped their price objective on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $75.45.

Insiders Place Their Bets

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $58.72, for a total transaction of $89,371.84. Following the sale, the chief executive officer directly 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company's stock.

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.