Fortune Brands Innovations, Inc. $FBIN Shares Sold by Raymond James Financial Inc.

Raymond James Financial Inc. lowered its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 91.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,582 shares of the company's stock after selling 537,215 shares during the quarter. Raymond James Financial Inc.'s holdings in Fortune Brands Innovations were worth $2,958,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. von Borstel & Associates Inc. purchased a new position in shares of Fortune Brands Innovations in the first quarter valued at $26,000. National Pension Service increased its position 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 in the last quarter. CX Institutional purchased a new position in shares of Fortune Brands Innovations in the first quarter valued at $29,000. Raleigh Capital Management Inc. increased its position in shares of Fortune Brands Innovations by 28.2% in the first quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock valued at $62,000 after buying an additional 224 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in shares of Fortune Brands Innovations in the first quarter valued at $62,000. Hedge funds and other institutional investors own 87.60% of the company's stock.

Wall Street Analyst Weigh In

FBIN has been the subject of a number of research analyst reports. Barclays raised their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Loop Capital reaffirmed a "hold" rating and set a $61.00 price objective (up previously from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Truist Financial reaffirmed a "hold" rating and set a $60.00 price objective (down previously from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Royal Bank Of Canada raised Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $59.00 to $65.00 in a research note on Friday, August 1st. Finally, 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 research note on Friday, August 1st. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $75.45.

Fortune Brands Innovations Stock Down 2.2%

Shares of NYSE:FBIN traded down $1.31 during mid-day trading on Friday, hitting $59.44. 1,909,758 shares of the company traded hands, compared to its average volume of 1,369,917. The firm has a market cap of $7.14 billion, a P/E ratio of 18.69, a PEG 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. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.54. The firm's 50 day simple moving average is $56.93 and its 200 day simple moving average is $55.63.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its 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 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%.The company's revenue was down 3.0% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 22nd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 31.45%.

Insider Activity at Fortune Brands Innovations

In related news, CEO Nicholas I. Fink sold 1,522 shares of the firm's 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 sale, the chief executive officer directly owned 97,139 shares in the company, valued at approximately $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 can be accessed through this link. Insiders own 1.00% of the company's stock.

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.