Teca Partners LP Has $10.70 Million Stock Holdings in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Teca Partners LP increased its stake in Fortune Brands Innovations, Inc. by 37.3%, owning 175,714 shares, which is now 7.7% of its investment portfolio.
• Fortune Brands Innovations reported a quarterly EPS of $1.00, surpassing estimates, with a revenue of $1.20 billion despite a year-over-year decline of 3%.
• The company declared a quarterly dividend of $0.25 per share, representing an annualized amount of $1.00, which corresponds to a dividend yield of 1.7%.

Teca Partners LP increased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 37.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 175,714 shares of the company's stock after buying an additional 47,711 shares during the period. Fortune Brands Innovations accounts for 7.7% of Teca Partners LP's investment portfolio, making the stock its 9th biggest position. Teca Partners LP owned approximately 0.15% of Fortune Brands Innovations worth $10,697,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Townsquare Capital LLC boosted its holdings in Fortune Brands Innovations by 3.3% in the 1st quarter. Townsquare Capital LLC now owns 6,236 shares of the company's stock valued at $380,000 after purchasing an additional 197 shares during the period. National Pension Service raised 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 worth $28,000 after buying an additional 199 shares in the last quarter. Baker Ellis Asset Management LLC boosted its stake in Fortune Brands Innovations by 0.4% during the first quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company's stock valued at $3,750,000 after buying an additional 219 shares during the period. Raleigh Capital Management Inc. boosted its stake in Fortune Brands Innovations by 28.2% during 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 during the period. Finally, HB Wealth Management LLC grew its position in Fortune Brands Innovations by 6.2% during the first quarter. HB Wealth Management LLC now owns 4,220 shares of the company's stock worth $257,000 after buying an additional 247 shares in the last quarter. Institutional investors own 87.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group upped their price objective on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Loop Capital reaffirmed a "hold" rating and issued a $61.00 target price (up from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Truist Financial restated a "hold" rating and set a $60.00 price target (down previously from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday. Robert W. Baird dropped their price target 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. Finally, Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Fortune Brands Innovations presently has an average rating of "Hold" and an average price target of $75.45.

Insider Activity

In related news, CEO Nicholas I. Fink sold 29,792 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $59.04, for a total value of $1,758,919.68. Following the sale, the chief executive officer owned 180,625 shares in the company, valued at $10,664,100. This represents a 14.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company's stock.

Fortune Brands Innovations Stock Down 1.0%

FBIN stock traded down $0.59 during midday trading on Thursday, hitting $58.92. The stock had a trading volume of 1,038,927 shares, compared to its average volume of 1,902,328. The business has a 50-day moving average of $55.42 and a two-hundred day moving average of $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. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 4.08 and a beta of 1.32. 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 announced its earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.02. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The company's quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced 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 dividend payout ratio (DPR) 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.