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

Key Points

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Quantbot Technologies LP raised its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 352.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,929 shares of the company's stock after purchasing an additional 57,593 shares during the period. Quantbot Technologies LP owned 0.06% of Fortune Brands Innovations worth $4,501,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Fortune Brands Innovations by 113.5% during the 1st quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company's stock worth $373,079,000 after purchasing an additional 3,257,428 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Fortune Brands Innovations by 1,530.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 775,093 shares of the company's stock worth $52,962,000 after acquiring an additional 727,550 shares during the last quarter. First Pacific Advisors LP raised its holdings in shares of Fortune Brands Innovations by 220.8% in the first quarter. First Pacific Advisors LP now owns 792,517 shares of the company's stock worth $48,248,000 after acquiring an additional 545,499 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fortune Brands Innovations by 22.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,351,110 shares of the company's stock valued at $143,130,000 after acquiring an additional 426,929 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Fortune Brands Innovations by 9.2% during the first quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company's stock valued at $295,598,000 after acquiring an additional 409,466 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fortune Brands Innovations

In other news, CEO Nicholas I. Fink sold 29,792 shares of the firm's stock in a transaction on Friday, August 15th. The shares were 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. This trade represents a 14.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group boosted their target price on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $59.00 to $65.00 in a report on Friday, August 1st. Barclays boosted their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Truist Financial set a $65.00 price target on Fortune Brands Innovations in a research note on Wednesday, May 7th. Finally, Robert W. Baird lowered their price objective on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $75.91.

Fortune Brands Innovations Trading Up 7.0%

Shares of FBIN traded up $4.0250 during trading hours on Friday, hitting $61.5050. The stock had a trading volume of 1,868,188 shares, compared to its average volume of 1,964,824. The company's fifty day simple moving average is $54.64 and its 200 day simple moving average is $56.53. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month 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 firm 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 (NYSE:FBIN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company posted $1.16 EPS. The company's 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. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

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

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.