Fortune Brands Innovations, Inc. $FBIN Shares Acquired by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its holdings in Fortune Brands Innovations by 44.1% during the first quarter, owning approximately 0.17% of the company valued at over $12 million.
• Fortune Brands Innovations declared a quarterly dividend of $0.25 per share, representing a 1.7% annual yield, with shares trading at $58.92 on the announcement day.
• Despite a mixed outlook from analysts, with price targets ranging from $54.00 to $68.00, there is consensus on a "Hold" rating for the stock with expectations of 4.24 EPS for the current year.

Trexquant Investment LP lifted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 44.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,607 shares of the company's stock after acquiring an additional 61,422 shares during the quarter. Trexquant Investment LP owned 0.17% of Fortune Brands Innovations worth $12,213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Townsquare Capital LLC grew its stake in shares of Fortune Brands Innovations by 3.3% during the first quarter. Townsquare Capital LLC now owns 6,236 shares of the company's stock worth $380,000 after acquiring an additional 197 shares during the last quarter. National Pension Service grew its stake in shares of Fortune Brands Innovations by 74.5% during the first quarter. National Pension Service now owns 466 shares of the company's stock worth $28,000 after acquiring an additional 199 shares during the last quarter. Baker Ellis Asset Management LLC grew its stake in shares of 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 worth $3,750,000 after acquiring an additional 219 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Fortune Brands Innovations by 28.2% during the first quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock worth $62,000 after acquiring an additional 224 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in shares of 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 acquiring an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Performance

NYSE FBIN traded down $0.38 during trading hours on Friday, reaching $58.56. The stock had a trading volume of 835,146 shares, compared to its average volume of 1,644,448. The stock has a fifty day moving average of $55.59 and a 200 day moving average of $56.03. The stock has a market cap of $7.03 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 4.02 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. 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 (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company posted $1.16 earnings per share. 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. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

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 paid 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 of this dividend is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio is presently 31.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FBIN. Loop Capital restated a "hold" rating and set a $61.00 price target (up previously from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Robert W. Baird dropped their price target on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Barclays upped their target price 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. Finally, Royal Bank Of Canada upgraded Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $59.00 to $65.00 in a research report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $75.45.

Insider Buying and Selling at Fortune Brands Innovations

In other 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 transaction of $1,758,919.68. Following the completion of the transaction, the chief executive officer directly owned 180,625 shares of the company's stock, valued at $10,664,100. This represents a 14.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

About Fortune Brands Innovations

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.