Fortune Brands Innovations, Inc. $FBIN Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Fortune Brands Innovations by 14.7%, now holding approximately 1,500,613 shares worth about $91.4 million.
• Fortune Brands Innovations reported $1.00 EPS for the last quarter, exceeding expectations and experiencing a 3% revenue decline compared to the previous year.
• The company will pay a quarterly dividend of $0.25 per share on September 10, representing an annualized yield of 1.7%.

Invesco Ltd. trimmed its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 14.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,500,613 shares of the company's stock after selling 259,266 shares during the period. Invesco Ltd. owned 1.25% of Fortune Brands Innovations worth $91,357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in Fortune Brands Innovations by 9.2% in 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 during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Fortune Brands Innovations by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,924,181 shares of the company's stock valued at $131,481,000 after purchasing an additional 40,138 shares in the last quarter. Ninety One UK Ltd lifted its holdings in Fortune Brands Innovations by 9.9% in the 1st quarter. Ninety One UK Ltd now owns 1,325,821 shares of the company's stock valued at $80,716,000 after purchasing an additional 119,937 shares in the last quarter. Northern Trust Corp lifted its holdings in Fortune Brands Innovations by 35.5% in the 4th quarter. Northern Trust Corp now owns 1,295,703 shares of the company's stock valued at $88,535,000 after purchasing an additional 339,314 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Fortune Brands Innovations by 1.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,262,178 shares of the company's stock valued at $86,245,000 after purchasing an additional 15,109 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FBIN has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. UBS Group upped their target price on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a report on Friday, August 1st. Barclays upped their target price on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a 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 company from $59.00 to $65.00 in a report on Friday, August 1st. Finally, Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a report on Wednesday, May 7th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $75.91.

Insider Transactions at Fortune Brands Innovations

In related news, CEO Nicholas I. Fink sold 1,522 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $58.72, for a total transaction of $89,371.84. Following the completion of the sale, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company's stock.

Fortune Brands Innovations Trading Down 0.7%

Shares of FBIN stock traded down $0.3760 during trading hours on Thursday, hitting $57.3940. 1,182,886 shares of the company were exchanged, compared to its average volume of 2,008,990. The firm has a market cap of $6.89 billion, a PE ratio of 18.05, a PEG ratio of 3.97 and a beta of 1.32. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $90.54. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The firm has a fifty day moving average of $54.41 and a 200 day moving average of $56.58.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $1.20 billion for 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 company's revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm 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 year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be given a dividend of $0.25 per share. 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 31.45%.

Fortune Brands Innovations Company 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.