Prospector Partners LLC Has $8.97 Million Position in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Prospector Partners LLC increased its stake in Fortune Brands Innovations, Inc. by 10.0% during Q1, now owning 147,380 shares valued at approximately $8.97 million.
• Fortune Brands reported a quarterly earnings per share of $1.00, exceeding analyst expectations, while revenue declined 3.0% compared to the previous year, totaling $1.20 billion.
• The company announced a quarterly dividend of $0.25 per share, representing an annualized yield of 1.7% and a payout ratio of 31.45%.

Prospector Partners LLC increased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 10.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,380 shares of the company's stock after buying an additional 13,422 shares during the quarter. Prospector Partners LLC owned about 0.12% of Fortune Brands Innovations worth $8,972,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new position in Fortune Brands Innovations during the 1st quarter worth $26,000. National Pension Service lifted its holdings in shares of Fortune Brands Innovations by 74.5% in the first quarter. National Pension Service now owns 466 shares of the company's stock valued at $28,000 after buying an additional 199 shares during the period. CX Institutional purchased a new stake in shares of Fortune Brands Innovations during the first quarter valued at $29,000. Alpine Bank Wealth Management purchased a new stake in shares of Fortune Brands Innovations during the first quarter valued at $62,000. Finally, Raleigh Capital Management Inc. lifted its holdings 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 valued at $62,000 after purchasing an additional 224 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

Fortune Brands Innovations Price Performance

FBIN stock traded up $4.0250 during trading on Friday, hitting $61.5050. The company had a trading volume of 1,868,188 shares, compared to its average volume of 1,964,824. The company has a fifty day moving average price of $54.64 and a two-hundred day moving average price of $56.53. 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 company has a market cap of $7.38 billion, a P/E ratio of 19.34, a P/E/G ratio of 3.95 and a beta of 1.32. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week 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 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

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

Wall Street Analyst Weigh In

FBIN has been the topic of several recent analyst reports. Royal Bank Of Canada raised Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $59.00 to $65.00 in a research report on Friday, August 1st. Loop Capital reissued a "hold" rating and set a $61.00 price objective (up previously from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. UBS Group increased their price objective on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Robert W. Baird decreased their target price on 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 investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $75.91.

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 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 transaction, the chief executive officer owned 180,625 shares of the company's stock, valued at approximately $10,664,100. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company's stock.

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.