Jump Financial LLC Boosts Stake in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Jump Financial LLC increased its stake in Fortune Brands Innovations by 87.5%, owning a total of 53,293 shares worth approximately $3.24 million after buying an additional 24,863 shares in the first quarter.
• CEO Nicholas I. Fink sold 1,522 shares of the company at an average price of $58.72, resulting in a significant decrease in his ownership by 1.54%.
• Analysts have mixed opinions on the stock, with 6 rating it as a "Buy" and 5 as a "Hold," and an average target price of $75.91, despite recent price target adjustments from firms like Robert W. Baird and Royal Bank of Canada.

Jump Financial LLC raised its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 87.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,293 shares of the company's stock after buying an additional 24,863 shares during the quarter. Jump Financial LLC's holdings in Fortune Brands Innovations were worth $3,244,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in FBIN. von Borstel & Associates Inc. purchased a new stake in shares of Fortune Brands Innovations in the first quarter valued at $26,000. National Pension Service raised its stake in Fortune Brands Innovations by 74.5% in 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 last quarter. CX Institutional acquired a new position in Fortune Brands Innovations in the 1st quarter valued at about $29,000. Raleigh Capital Management Inc. lifted its holdings in Fortune Brands Innovations by 28.2% in the 1st quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock valued at $62,000 after purchasing an additional 224 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Fortune Brands Innovations during the 1st quarter worth about $62,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fortune Brands Innovations

In related news, CEO Nicholas I. Fink sold 1,522 shares of the firm'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 transaction, the chief executive officer owned 97,139 shares in the company, valued at approximately $5,704,002.08. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

FBIN has been the subject of a number of analyst reports. 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. Royal Bank Of Canada upgraded Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $59.00 to $65.00 in a report on Friday, August 1st. Barclays increased their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Loop Capital reaffirmed 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. Finally, Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research report on Wednesday, May 7th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.91.

Fortune Brands Innovations Trading Up 0.1%

FBIN stock 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. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 4.11 and a beta of 1.32. The business has a fifty day simple moving average of $55.03 and a 200-day simple moving average of $56.32. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its earnings results 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 firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS 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 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.

Want to see what other hedge funds are holding FBIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.