Southeast Asset Advisors LLC decreased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,544 shares of the company's stock after selling 6,596 shares during the period. Southeast Asset Advisors LLC's holdings in Fortune Brands Innovations were worth $3,016,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of FBIN. Wellington Management Group LLP grew its stake in shares of Fortune Brands Innovations by 113.5% in the first quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company's stock worth $373,079,000 after acquiring an additional 3,257,428 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in 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 purchasing an additional 727,550 shares during the period. First Pacific Advisors LP lifted its holdings in shares of Fortune Brands Innovations by 220.8% during the first quarter. First Pacific Advisors LP now owns 792,517 shares of the company's stock valued at $48,248,000 after acquiring an additional 545,499 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Fortune Brands Innovations by 22.2% during 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 during the period. Finally, JPMorgan Chase & Co. lifted its holdings 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 period. Institutional investors and hedge funds own 87.60% of the company's stock.
Insider Buying and Selling at Fortune Brands Innovations
In other news, CEO Nicholas I. Fink sold 29,792 shares of Fortune Brands Innovations stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $59.04, for a total transaction of $1,758,919.68. Following the transaction, the chief executive officer owned 180,625 shares in the company, valued at $10,664,100. The trade was a 14.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.
Fortune Brands Innovations Trading Down 0.9%
Shares of Fortune Brands Innovations stock traded down $0.52 during trading on Friday, hitting $58.42. 232,787 shares of the company were exchanged, compared to its average volume of 1,980,113. The firm has a market capitalization of $7.01 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 4.08 and a beta of 1.32. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54. The firm's fifty day moving average price is $55.42 and its 200 day moving average price is $56.27. 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 (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 analysts' expectations of $1.19 billion. During the same quarter in the previous year, the business posted $1.16 EPS. Fortune Brands Innovations's revenue for the quarter was down 3.0% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share 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 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 is Friday, August 22nd. Fortune Brands Innovations's payout ratio is 31.45%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on FBIN. Truist Financial restated a "hold" rating and issued a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday. UBS Group lifted their price objective on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Barclays lifted their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Loop Capital reiterated a "hold" rating and issued a $61.00 price objective (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $75.45.
Check Out Our Latest Stock Report on FBIN
Fortune Brands Innovations Profile
(
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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