Hsbc Holdings PLC decreased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 42.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,960 shares of the company's stock after selling 49,181 shares during the quarter. Hsbc Holdings PLC owned about 0.06% of Fortune Brands Innovations worth $4,071,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Townsquare Capital LLC raised its position in Fortune Brands Innovations by 3.3% in the 1st quarter. Townsquare Capital LLC now owns 6,236 shares of the company's stock valued at $380,000 after purchasing an additional 197 shares during the last quarter. National Pension Service raised its position in Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company's stock worth $28,000 after buying an additional 199 shares during the last quarter. Baker Ellis Asset Management LLC raised its position in Fortune Brands Innovations by 0.4% during the 1st quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company's stock worth $3,750,000 after buying an additional 219 shares during the last quarter. Raleigh Capital Management Inc. raised its position in Fortune Brands Innovations by 28.2% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock worth $62,000 after buying an additional 224 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in Fortune Brands Innovations by 6.2% during the 1st quarter. HB Wealth Management LLC now owns 4,220 shares of the company's stock worth $257,000 after buying an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.
Analyst Upgrades and Downgrades
FBIN has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Barclays upped their price objective 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. Robert W. Baird cut their price objective 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. Truist Financial set a $65.00 price objective on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th. Finally, UBS Group upped their price objective on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $75.91.
Check Out Our Latest Report on FBIN
Insider Buying and Selling
In related news, CEO Nicholas I. Fink sold 1,522 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $58.72, for a total value of $89,371.84. Following 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company's stock.
Fortune Brands Innovations Stock Performance
NYSE:FBIN opened at $59.91 on Wednesday. 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, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.54. The stock has a market cap of $7.19 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 4.11 and a beta of 1.32. The firm's fifty day simple moving average is $55.03 and its 200-day simple moving average is $56.32.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted 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 business had revenue of $1.20 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.
Fortune Brands Innovations Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 yield of 1.7%. The ex-dividend date of this dividend is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio is presently 31.45%.
Fortune Brands Innovations Company Profile
(
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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