Gulf International Bank UK Ltd trimmed its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 61.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,815 shares of the company's stock after selling 6,057 shares during the quarter. Gulf International Bank UK Ltd's holdings in Fortune Brands Innovations were worth $232,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of FBIN. Balyasny Asset Management L.P. increased its holdings in Fortune Brands Innovations by 1,530.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 775,093 shares of the company's stock worth $52,962,000 after purchasing an additional 727,550 shares during the period. First Pacific Advisors LP boosted its position in Fortune Brands Innovations by 220.8% during the 1st quarter. First Pacific Advisors LP now owns 792,517 shares of the company's stock valued at $48,248,000 after acquiring an additional 545,499 shares in the last quarter. JPMorgan Chase & Co. boosted its position in 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. Northern Trust Corp boosted its position in Fortune Brands Innovations by 35.5% during the 4th quarter. Northern Trust Corp now owns 1,295,703 shares of the company's stock valued at $88,535,000 after acquiring an additional 339,314 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Fortune Brands Innovations by 163.0% in the 1st quarter. KBC Group NV now owns 429,865 shares of the company's stock worth $26,171,000 after purchasing an additional 266,399 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.
Fortune Brands Innovations Stock Performance
Shares of NYSE FBIN traded up $4.0380 during trading on Friday, reaching $61.2680. 580,077 shares of the company traded hands, compared to its average volume of 2,001,551. The firm's fifty day simple moving average is $54.41 and its 200 day simple moving average is $56.58. The stock has a market cap of $7.35 billion, a P/E ratio of 19.32, a PEG ratio of 3.97 and a beta of 1.32. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month 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.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings data 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. The business 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%.The company's revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.
Fortune Brands Innovations Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 31.45%.
Insider Buying and Selling at Fortune Brands Innovations
In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 29,792 shares of Fortune Brands Innovations stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 180,625 shares in the company, valued at approximately $10,664,100. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on FBIN. Loop Capital reissued a "hold" rating and issued a $61.00 price objective (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Barclays raised their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Robert W. Baird lowered their price objective on 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 lifted their price target 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. Finally, Royal Bank Of Canada raised Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Fortune Brands Innovations has an average rating of "Moderate Buy" and a consensus target price of $75.91.
Check Out Our Latest Stock Report on FBIN
Fortune Brands Innovations Company Profile
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Free Report)
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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