Prudential PLC lessened its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 83.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,913 shares of the company's stock after selling 25,370 shares during the period. Prudential PLC's holdings in Fortune Brands Innovations were worth $299,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of Fortune Brands Innovations by 9.2% in the first quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company's stock valued at $295,598,000 after buying an additional 409,466 shares during the period. Dimensional Fund Advisors LP lifted its stake in Fortune Brands Innovations by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,924,181 shares of the company's stock valued at $131,481,000 after acquiring an additional 40,138 shares during the last quarter. Ninety One UK Ltd lifted its stake in Fortune Brands Innovations by 9.9% in the first quarter. Ninety One UK Ltd now owns 1,325,821 shares of the company's stock valued at $80,716,000 after acquiring an additional 119,937 shares during the last quarter. Northern Trust Corp lifted its stake in Fortune Brands Innovations by 35.5% in the fourth quarter. Northern Trust Corp now owns 1,295,703 shares of the company's stock valued at $88,535,000 after acquiring an additional 339,314 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Fortune Brands Innovations by 1.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,262,178 shares of the company's stock valued at $86,245,000 after purchasing an additional 15,109 shares during the period. Institutional investors own 87.60% of the company's stock.
Fortune Brands Innovations Price Performance
Shares of FBIN traded up $4.2820 during mid-day trading on Friday, reaching $61.5120. The company had a trading volume of 494,639 shares, compared to its average volume of 2,000,742. The company's 50 day simple moving average is $54.41 and its 200 day simple moving average is $56.58. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54. 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 market capitalization of $7.38 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 3.97 and a beta of 1.32.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company posted $1.16 EPS. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.
Fortune Brands Innovations Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 31.45%.
Insider Buying and Selling at Fortune Brands Innovations
In related news, CEO Nicholas I. Fink sold 1,522 shares of Fortune Brands Innovations stock in a transaction that occurred 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 sale, the chief executive officer directly owned 97,139 shares in the company, valued at $5,704,002.08. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company's stock.
Analysts Set New Price Targets
FBIN has been the topic of several research analyst reports. Truist Financial set a $65.00 price objective on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th. Loop Capital reiterated a "hold" rating and set a $61.00 price objective (up from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $59.00 to $65.00 in a research note on Friday, August 1st. Finally, Barclays increased their price objective 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. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Fortune Brands Innovations presently has a consensus rating of "Moderate Buy" and an average price target of $75.91.
View Our Latest Stock Analysis on FBIN
Fortune Brands Innovations Profile
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Free Report)
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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