OMERS ADMINISTRATION Corp Raises Holdings in Fortune Brands Innovations, Inc. $FBIN

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Fortune Brands Innovations, Inc. by 40.5% in the first quarter, acquiring a total of 30,005 shares valued at approximately $1.83 million.
• The company's stock received mixed ratings from analysts, with five rating it a Buy and six a Hold, while its average target price stands at $75.45.
• Fortune Brands Innovations announced a quarterly dividend of $0.25 per share, which will be payable on September 10th, representing an annualized dividend yield of 1.7%.

OMERS ADMINISTRATION Corp increased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 40.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,005 shares of the company's stock after buying an additional 8,652 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Fortune Brands Innovations were worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Stifel Financial Corp boosted its position in Fortune Brands Innovations by 23.6% during the fourth quarter. Stifel Financial Corp now owns 10,256 shares of the company's stock worth $701,000 after purchasing an additional 1,960 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Fortune Brands Innovations by 19.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 137,917 shares of the company's stock worth $9,425,000 after buying an additional 22,443 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Fortune Brands Innovations by 5.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 109,887 shares of the company's stock worth $7,509,000 after acquiring an additional 6,063 shares during the last quarter. Northern Trust Corp boosted its position in shares of Fortune Brands Innovations by 35.5% during the 4th quarter. Northern Trust Corp now owns 1,295,703 shares of the company's stock worth $88,535,000 after purchasing an additional 339,314 shares during the period. Finally, Freestone Grove Partners LP purchased a new position in shares of Fortune Brands Innovations during the 4th quarter worth approximately $343,000. Hedge funds and other institutional investors own 87.60% of the company's stock.

Analyst Ratings Changes

FBIN has been the subject of a number of research reports. Truist Financial reaffirmed a "hold" rating and issued a $60.00 price objective (down from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Loop Capital reaffirmed a "hold" rating and set a $61.00 price objective (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Barclays upped their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, UBS Group upped their price objective on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Fortune Brands Innovations presently has a consensus rating of "Hold" and a consensus target price of $75.45.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock traded up $1.58 during trading on Friday, hitting $60.63. The stock had a trading volume of 1,091,835 shares, compared to its average volume of 1,968,730. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54. The business's 50-day moving average is $56.10 and its 200 day moving average is $55.90. 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 market cap of $7.28 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 3.92 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its 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. The business had revenue of $1.20 billion during 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 was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Nicholas I. Fink sold 1,522 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $58.72, for a total transaction of $89,371.84. Following the completion of the sale, the chief executive officer owned 97,139 shares of the company's stock, valued at $5,704,002.08. The trade was a 1.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.00% of the company's stock.

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.