Fortune Brands Innovations, Inc. $FBIN Shares Purchased by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB publ increased its stake in Fortune Brands Innovations by 2.1%, now holding approximately 207,277 shares worth $12.62 million.
• Fortune Brands Innovations announced a quarterly dividend of $0.25, representing an annualized yield of 1.7%, with a dividend payout ratio of 31.45%.
• The company's latest earnings exceeded analyst expectations, reporting $1.00 EPS against a consensus estimate of $0.98, despite a 3% year-over-year revenue decline.

Lansforsakringar Fondforvaltning AB publ increased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 207,277 shares of the company's stock after buying an additional 4,276 shares during the period. Lansforsakringar Fondforvaltning AB publ owned about 0.17% of Fortune Brands Innovations worth $12,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in FBIN. Townsquare Capital LLC boosted its position in Fortune Brands Innovations by 3.3% during the first quarter. Townsquare Capital LLC now owns 6,236 shares of the company's stock worth $380,000 after purchasing an additional 197 shares in the last quarter. National Pension Service increased its holdings in Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company's stock valued at $28,000 after acquiring an additional 199 shares in the last quarter. Baker Ellis Asset Management LLC lifted its holdings in shares of Fortune Brands Innovations by 0.4% in the first quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company's stock valued at $3,750,000 after purchasing an additional 219 shares in the last quarter. Raleigh Capital Management Inc. increased its position in Fortune Brands Innovations by 28.2% during the first quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock worth $62,000 after buying an additional 224 shares in the last quarter. Finally, HB Wealth Management LLC grew its holdings in shares of Fortune Brands Innovations by 6.2% during the first quarter. HB Wealth Management LLC now owns 4,220 shares of the company's stock worth $257,000 after buying an additional 247 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on FBIN. UBS Group raised their price objective on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Barclays raised their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Loop Capital reiterated a "hold" rating and issued a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Robert W. Baird reduced their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Truist Financial reiterated a "hold" rating and issued a $60.00 target price (down previously from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $75.45.

Fortune Brands Innovations Stock Down 1.7%

FBIN stock traded down $1.00 during trading on Tuesday, reaching $57.52. The stock had a trading volume of 1,402,979 shares, compared to its average volume of 1,980,355. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. The firm has a fifty day moving average price of $55.73 and a 200 day moving average price of $55.95. The company has a market capitalization of $6.90 billion, a P/E ratio of 18.09, a PEG ratio of 4.02 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.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.02. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The company's revenue for the quarter was down 3.0% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 22nd. Fortune Brands Innovations's payout ratio is currently 31.45%.

Insider Buying and Selling

In other news, CEO Nicholas I. Fink sold 29,792 shares of Fortune Brands Innovations stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $59.04, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

About Fortune Brands Innovations

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.