Landscape Capital Management L.L.C. Lowers Stake in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Landscape Capital Management cut its stake in Fortune Brands Innovations by 39.4% in the fourth quarter, selling 23,486 shares and leaving it with 36,058 shares valued at about $1.8 million.
• Fortune Brands Innovations reported Q1 earnings that matched expectations, with EPS of $0.53 and revenue of $1.01 billion, though revenue fell 2.1% from a year earlier.
• The company also paid a quarterly dividend of $0.26 per share and saw notable insider buying, including Director Edward P. Garden purchasing 320,067 shares in June.

Landscape Capital Management L.L.C. reduced its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 39.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,058 shares of the company's stock after selling 23,486 shares during the period. Landscape Capital Management L.L.C.'s holdings in Fortune Brands Innovations were worth $1,804,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Assetmark Inc. lifted its position in Fortune Brands Innovations by 1.2% during the 4th quarter. Assetmark Inc. now owns 17,728 shares of the company's stock valued at $887,000 after acquiring an additional 208 shares during the period. TD Private Client Wealth LLC increased its stake in Fortune Brands Innovations by 3.0% during the 4th quarter. TD Private Client Wealth LLC now owns 7,308 shares of the company's stock valued at $366,000 after purchasing an additional 213 shares in the last quarter. Fifth Third Bancorp increased its stake in Fortune Brands Innovations by 11.3% during the 3rd quarter. Fifth Third Bancorp now owns 2,166 shares of the company's stock valued at $116,000 after purchasing an additional 220 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in Fortune Brands Innovations by 1.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 14,695 shares of the company's stock valued at $785,000 after purchasing an additional 226 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Fortune Brands Innovations by 30.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,108 shares of the company's stock valued at $57,000 after purchasing an additional 256 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN opened at $42.98 on Tuesday. The firm has a 50 day moving average of $39.07 and a 200 day moving average of $47.14. The company has a current ratio of 2.13, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 2.79 and a beta of 1.37. Fortune Brands Innovations, Inc. has a 12-month low of $32.34 and a 12-month high of $64.84.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The firm's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 earnings per share. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 3.13 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 22nd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, May 22nd. Fortune Brands Innovations's payout ratio is 46.22%.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Edward P. Garden bought 320,067 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The stock was bought at an average cost of $40.60 per share, for a total transaction of $12,994,720.20. Following the completion of the transaction, the director owned 3,940,234 shares of the company's stock, valued at $159,973,500.40. This represents a 8.84% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 786,367 shares of company stock worth $28,653,958 in the last three months. Insiders own 3.32% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on FBIN shares. JPMorgan Chase & Co. reduced their price objective on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Friday, May 15th. Zacks Research lowered shares of Fortune Brands Innovations from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 19th. Weiss Ratings restated a "hold (c-)" rating on shares of Fortune Brands Innovations in a research note on Friday, May 29th. Barclays reduced their price target on shares of Fortune Brands Innovations from $43.00 to $41.00 and set an "equal weight" rating for the company in a research note on Monday, May 11th. Finally, UBS Group reduced their price target on shares of Fortune Brands Innovations from $67.00 to $63.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Fortune Brands Innovations currently has a consensus rating of "Hold" and a consensus price target of $51.31.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations NYSE: FBIN, formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.

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