Quantbot Technologies LP Increases Stake in Fortune Brands Innovations, Inc. $FBIN

Key Points

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Quantbot Technologies LP boosted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 352.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,929 shares of the company's stock after buying an additional 57,593 shares during the quarter. Quantbot Technologies LP owned 0.06% of Fortune Brands Innovations worth $4,501,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. von Borstel & Associates Inc. purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at about $26,000. National Pension Service increased its position in shares of Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company's stock valued at $28,000 after purchasing an additional 199 shares during the last quarter. CX Institutional purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at about $29,000. Alpine Bank Wealth Management purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at about $62,000. Finally, Raleigh Capital Management Inc. increased its position in shares of Fortune Brands Innovations by 28.2% during the 1st 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. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN traded up $4.0250 during mid-day trading on Friday, reaching $61.5050. 1,868,188 shares of the company traded hands, compared to its average volume of 1,988,147. The company's 50 day moving average price is $54.64 and its 200-day moving average price is $56.35. The firm has a market cap of $7.38 billion, a PE ratio of 19.34, a PEG ratio of 4.22 and a beta of 1.32. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week 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 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the company posted $1.16 EPS. The firm's revenue for the quarter 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. On average, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed 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 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 dividend payout ratio (DPR) is 31.45%.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of the 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 completion of the sale, the chief executive officer directly owned 97,139 shares of the company's stock, valued at $5,704,002.08. This trade represents a 1.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FBIN has been the subject of several research reports. Royal Bank Of Canada raised shares of 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. UBS Group boosted their price objective on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Barclays boosted their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. 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. Finally, Robert W. Baird cut their price objective 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 issued a Hold rating to the company. According to MarketBeat.com, Fortune Brands Innovations presently has an average rating of "Moderate Buy" and a consensus target price of $75.91.

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.