Petrus Trust Company LTA Invests $399,000 in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Petrus Trust Company LTA acquired 6,550 shares of Fortune Brands Innovations, Inc. valued at approximately $399,000 during the first quarter, reflecting a continued interest from institutional investors in the company.
• The stock price of Fortune Brands Innovations has seen a 3.0% increase recently, with current trading around $60.80, and it has a twelve-month market range between $47.21 and $90.54.
• The company recently announced a quarterly dividend of $0.25 per share, which translates to an annualized dividend of $1.00 and a yield of 1.6%.

Petrus Trust Company LTA purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,550 shares of the company's stock, valued at approximately $399,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Townsquare Capital LLC boosted its position in shares of 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 buying an additional 197 shares during the period. National Pension Service boosted its position in shares of Fortune Brands Innovations by 74.5% during the first quarter. National Pension Service now owns 466 shares of the company's stock worth $28,000 after buying an additional 199 shares during the period. Baker Ellis Asset Management LLC boosted its position in shares of Fortune Brands Innovations by 0.4% during the first quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company's stock worth $3,750,000 after buying an additional 219 shares during the period. Raleigh Capital Management Inc. boosted its position in shares of 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 during the period. Finally, HB Wealth Management LLC boosted its position 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 during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FBIN shares. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Truist Financial restated a "hold" rating and set a $60.00 price target (down previously from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. UBS Group increased their price target on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Royal Bank Of Canada raised Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $59.00 to $65.00 in a research report on Friday, August 1st. Finally, Loop Capital reaffirmed a "hold" rating and issued a $61.00 price target (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $75.45.

Fortune Brands Innovations Stock Down 2.2%

NYSE FBIN traded down $1.31 during trading on Friday, reaching $59.44. 1,909,758 shares of the company's stock were exchanged, compared to its average volume of 1,369,917. The stock has a market cap of $7.14 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 4.17 and a beta of 1.32. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 1.97. The company has a 50 day moving average price of $56.93 and a two-hundred day moving average price of $55.56. 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 quarterly 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. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.Fortune Brands Innovations's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 22nd. Fortune Brands Innovations's payout ratio is 31.45%.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of Fortune Brands Innovations stock in a transaction dated Monday, August 18th. The stock was 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 directly 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 filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by company insiders.

Fortune Brands Innovations Company 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.