Generation Investment Management LLP Acquires Shares of 1,612,301 Fortune Brands Innovations, Inc. $FBIN

Key Points

• Generation Investment Management LLP has invested approximately $98 million in Fortune Brands Innovations, acquiring over 1.6 million shares, making it the firm's 29th largest position.
• CEO Nicholas I. Fink sold 1,522 shares of Fortune Brands at an average price of $58.72, resulting in a minor decrease in his ownership stake in the company.
• Fortune Brands Innovations announced a quarterly dividend of $0.25 per share, reflecting an annualized yield of 1.7%, with institutional investors holding 87.60% of the stock.

Generation Investment Management LLP acquired a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 1,612,301 shares of the company's stock, valued at approximately $98,157,000. Fortune Brands Innovations accounts for approximately 0.6% of Generation Investment Management LLP's investment portfolio, making the stock its 29th biggest holding. Generation Investment Management LLP owned 1.34% of Fortune Brands Innovations as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FBIN. von Borstel & Associates Inc. bought a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at $26,000. National Pension Service raised its stake 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 purchasing an additional 199 shares during the period. CX Institutional purchased a new position in Fortune Brands Innovations during the first quarter worth about $29,000. Quarry LP purchased a new position in Fortune Brands Innovations during the first quarter worth about $60,000. Finally, Alpine Bank Wealth Management purchased a new position in Fortune Brands Innovations during the first quarter worth about $62,000. 87.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FBIN. Loop Capital reiterated a "hold" rating and issued a $61.00 price objective (up from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Barclays upped their price target 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. Truist Financial restated a "hold" rating and issued a $60.00 price target (down previously from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Royal Bank Of Canada raised Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $59.00 to $65.00 in a 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $75.45.

Fortune Brands Innovations Trading Up 3.0%

Shares of FBIN traded up $1.75 during mid-day trading on Friday, reaching $60.80. 2,507,980 shares of the company's stock traded hands, compared to its average volume of 1,509,103. The stock has a market cap of $7.30 billion, a P/E ratio of 19.12, a P/E/G ratio of 4.05 and a beta of 1.32. The stock's 50-day moving average is $56.29 and its two-hundred day moving average is $55.85. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98.

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 company had revenue of $1.20 billion during 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%.Fortune Brands Innovations's revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations's payout ratio is currently 31.45%.

Insider Buying and Selling at Fortune Brands Innovations

In other 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 in the company, valued at $10,664,100. The trade was a 14.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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.