6,706 Shares in Fortune Brands Innovations, Inc. $FBIN Acquired by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. invested $408,000 in Fortune Brands Innovations, acquiring 6,706 shares during the 1st quarter.
• Fortune Brands Innovations recently announced a quarterly dividend of $0.25 per share, representing an annualized yield of 1.7%.
• As of the latest reports, Fortune Brands Innovations has a market cap of $7.06 billion and a P/E ratio of 18.51.

Fox Run Management L.L.C. purchased a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,706 shares of the company's stock, valued at approximately $408,000.

Other hedge funds have also recently made changes to their positions in the company. von Borstel & Associates Inc. bought a new position in shares of Fortune Brands Innovations in the first quarter worth about $26,000. National Pension Service boosted its stake in shares of Fortune Brands Innovations by 74.5% in the first quarter. National Pension Service now owns 466 shares of the company's stock worth $28,000 after acquiring an additional 199 shares during the period. CX Institutional bought a new position in shares of Fortune Brands Innovations in the first quarter worth about $29,000. Raleigh Capital Management Inc. boosted its stake in shares of Fortune Brands Innovations by 28.2% in the first quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock worth $62,000 after acquiring an additional 224 shares during the period. Finally, Alpine Bank Wealth Management bought a new position in shares of Fortune Brands Innovations in the first quarter worth about $62,000. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Up 7.0%

Shares of NYSE:FBIN traded up $4.0250 on Friday, reaching $61.5050. The company had a trading volume of 1,868,188 shares, compared to its average volume of 1,988,147. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.54. The firm's 50 day simple moving average is $54.64 and its 200-day simple moving average is $56.35. 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 market capitalization of $7.38 billion, a PE ratio of 19.34, a PEG ratio of 4.22 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share 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 for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $1.16 EPS. The firm'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. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. Fortune Brands Innovations's dividend payout ratio is presently 31.45%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FBIN shares. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research report on Wednesday, May 7th. UBS Group boosted their target price 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. Barclays upped their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Loop Capital restated a "hold" rating and set a $61.00 price objective (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $75.91.

Insiders Place Their Bets

In other news, CEO Nicholas I. Fink sold 29,792 shares of the firm'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 value of $1,758,919.68. Following the transaction, the chief executive officer owned 180,625 shares in the company, valued at $10,664,100. This trade represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.00% of the company's stock.

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.