Northwest & Ethical Investments L.P. Trims Stock Position in Fortune Brands Innovations, Inc. $FBIN

Key Points

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Northwest & Ethical Investments L.P. cut its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 22.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,635 shares of the company's stock after selling 6,100 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Fortune Brands Innovations were worth $1,256,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FBIN. von Borstel & Associates Inc. purchased a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $26,000. National Pension Service raised its stake in shares of 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 acquiring an additional 199 shares during the period. CX Institutional purchased a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $29,000. Alpine Bank Wealth Management purchased a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $62,000. Finally, Raleigh Capital Management Inc. raised its stake in shares of 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 acquiring an additional 224 shares during the period. 87.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 29,792 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $59.04, for a total transaction of $1,758,919.68. Following the completion of the transaction, the chief executive officer owned 180,625 shares in the company, valued at $10,664,100. The trade was a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FBIN shares. Barclays boosted their price target on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. UBS Group boosted their price target on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. 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 report on Wednesday, May 7th. Finally, Truist Financial set a $65.00 price objective 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. 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.

Fortune Brands Innovations Stock Up 7.0%

Shares of FBIN stock traded up $4.0250 during trading on Friday, reaching $61.5050. The company's stock had a trading volume of 1,868,188 shares, compared to its average volume of 1,964,824. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 3.95 and a beta of 1.32. The stock's 50-day moving average price is $54.64 and its 200 day moving average price is $56.53. 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 posted its quarterly earnings results on Thursday, July 31st. The company reported $1.00 EPS 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 company 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 business posted $1.16 EPS. The firm'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. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

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

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.