Fortune Brands Innovations, Inc. $FBIN Stock Position Lowered by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in Fortune Brands Innovations, Inc. by 5.6%, selling 8,700 shares and now holds approximately 0.12% of the company's stock valued at $8.99 million.
• The company has reported a quarterly dividend of $0.25 per share, yielding 1.7%, and will be paid on September 10th to stockholders of record as of August 22nd.
• Fortune Brands Innovations' recent earnings report showed an EPS of $1.00, exceeding estimates, although revenue declined 3.0% year-over-year, highlighting potential market challenges.

Gabelli Funds LLC lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 147,700 shares of the company's stock after selling 8,700 shares during the period. Gabelli Funds LLC owned 0.12% of Fortune Brands Innovations worth $8,992,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. von Borstel & Associates Inc. bought a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at about $26,000. National Pension Service grew its position in shares of Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company's stock valued at $28,000 after buying an additional 199 shares during the last quarter. CX Institutional bought a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at about $29,000. Alpine Bank Wealth Management bought a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at about $62,000. Finally, Raleigh Capital Management Inc. grew its position in shares of Fortune Brands Innovations by 28.2% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock valued at $62,000 after buying an additional 224 shares during the last quarter. Institutional investors own 87.60% of the company's stock.

Insider Buying and Selling at Fortune Brands Innovations

In other 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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Truist Financial reaffirmed a "hold" rating and set a $60.00 price objective (down previously from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Barclays upped their target price 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. Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Robert W. Baird decreased their target price 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. Finally, Loop Capital restated a "hold" rating and issued a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $75.45.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN traded down $0.38 during trading on Monday, reaching $58.56. The company had a trading volume of 835,146 shares, compared to its average volume of 1,644,448. The firm's fifty day moving average is $55.59 and its 200 day moving average is $56.03. The firm has a market capitalization of $7.03 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 4.02 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 company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 1.97.

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, topping analysts' consensus estimates of $0.98 by $0.02. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio is currently 31.45%.

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.