Northern Trust Corp Has $81.51 Million Position in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Northern Trust Corp increased its position in Fortune Brands Innovations by 3.3%, owning 1,338,867 shares valued at approximately $81.51 million as of the last reporting period.
• The company reported a quarterly earnings per share of $1.00, exceeding analyst expectations, with a total revenue of $1.20 billion, although revenue was down 3% year-over-year.
• Fortune Brands Innovations announced a quarterly dividend of $0.25 per share, with an ex-dividend date set for August 22nd, reflecting an annualized yield of 1.6%.

Northern Trust Corp raised its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,338,867 shares of the company's stock after acquiring an additional 43,164 shares during the quarter. Northern Trust Corp owned approximately 1.11% of Fortune Brands Innovations worth $81,510,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of FBIN. Balyasny Asset Management L.P. lifted its stake in shares of Fortune Brands Innovations by 1,530.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 775,093 shares of the company's stock worth $52,962,000 after buying an additional 727,550 shares during the last quarter. First Pacific Advisors LP lifted its stake in shares of Fortune Brands Innovations by 220.8% during the 1st quarter. First Pacific Advisors LP now owns 792,517 shares of the company's stock worth $48,248,000 after buying an additional 545,499 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Fortune Brands Innovations by 22.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,351,110 shares of the company's stock worth $143,130,000 after buying an additional 426,929 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Fortune Brands Innovations by 9.2% during the 1st quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company's stock worth $295,598,000 after buying an additional 409,466 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Fortune Brands Innovations by 163.0% during the 1st quarter. KBC Group NV now owns 429,865 shares of the company's stock worth $26,171,000 after buying an additional 266,399 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $61.5050 on Monday. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month 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 company has a 50-day simple moving average of $54.64 and a two-hundred day simple moving average of $56.35. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 4.22 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued 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. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the company earned $1.16 EPS. The business's revenue was down 3.0% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is currently 31.45%.

Insider Buying and Selling

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 29,792 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $59.04, for a total value of $1,758,919.68. Following the transaction, the chief executive officer directly owned 180,625 shares of the company's stock, valued at $10,664,100. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a 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.

Analyst Ratings Changes

A number of research firms have recently issued reports on FBIN. Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a research note on Wednesday, May 7th. Loop Capital restated a "hold" rating and set a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Barclays raised their target price on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. UBS Group lifted 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 note on Friday, August 1st. Finally, Robert W. Baird dropped 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 note on Wednesday, May 7th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations presently has an average rating of "Moderate Buy" and an average target price of $75.91.

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.

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