Fortune Brands Innovations, Inc. $FBIN Stock Position Decreased by Aberdeen Group plc

Key Points

• Aberdeen Group plc reduced its holdings in Fortune Brands Innovations by 71.1% during the second quarter, selling 14,090 shares and ending up with 5,741 shares valued at approximately $296,000.
• Fortune Brands Innovations recently reported $1.00 earnings per share for the last quarter, surpassing analysts' expectations of $0.98, despite a 3.0% year-over-year decline in revenue.
• The company declared a quarterly dividend of $0.25 per share, translating to an annualized yield of 2.0%, with the payment scheduled for December 10th.

Aberdeen Group plc lowered its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 71.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,741 shares of the company's stock after selling 14,090 shares during the period. Aberdeen Group plc's holdings in Fortune Brands Innovations were worth $296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FBIN. Wellington Management Group LLP raised its position 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 worth $373,079,000 after purchasing an additional 3,257,428 shares during the period. Generation Investment Management LLP bought a new position in Fortune Brands Innovations during the 1st quarter worth $98,157,000. Orbis Allan Gray Ltd acquired a new stake in Fortune Brands Innovations in the first quarter worth $46,464,000. Amundi lifted its stake in Fortune Brands Innovations by 24.1% in the first quarter. Amundi now owns 2,861,900 shares of the company's stock valued at $169,975,000 after buying an additional 555,036 shares during the last quarter. Finally, First Pacific Advisors LP lifted its stake in Fortune Brands Innovations by 220.8% in the first quarter. First Pacific Advisors LP now owns 792,517 shares of the company's stock valued at $48,248,000 after buying an additional 545,499 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FBIN has been the subject of several recent research reports. Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. UBS Group boosted their target price on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Weiss Ratings restated a "hold (c-)" rating on shares of Fortune Brands Innovations in a research note on Tuesday, October 14th. Barclays lifted their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Truist Financial reiterated a "hold" rating and set a $60.00 price objective (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $71.90.

Fortune Brands Innovations Trading Up 0.7%

Shares of FBIN stock opened at $49.97 on Friday. The stock has a 50-day simple moving average of $55.93 and a 200 day simple moving average of $53.88. The stock has a market capitalization of $6.00 billion, a P/E ratio of 15.71, a P/E/G ratio of 3.44 and a beta of 1.33. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.20. 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 issued its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the company earned $1.16 EPS. Fortune Brands Innovations'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. On average, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 31.45%.

Insiders Place Their Bets

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of Fortune Brands Innovations 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 transaction, the chief executive officer owned 97,139 shares in the company, valued at approximately $5,704,002.08. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company's stock.

Fortune Brands Innovations 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.

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