UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,268,383 shares of the company's stock after acquiring an additional 6,205 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 1.05% of Fortune Brands Innovations worth $77,219,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new stake in Fortune Brands Innovations in the first quarter worth about $26,000. National Pension Service lifted its stake in 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 acquiring an additional 199 shares during the period. CX Institutional purchased a new stake in Fortune Brands Innovations in the first quarter worth about $29,000. Quarry LP purchased a new stake in Fortune Brands Innovations in the first quarter worth about $60,000. Finally, Alpine Bank Wealth Management purchased a new stake in Fortune Brands Innovations in the first quarter worth about $62,000. 87.60% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Truist Financial reaffirmed a "hold" rating and issued a $60.00 price objective (down from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. 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 note on Friday, August 1st. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $59.00 to $65.00 in a research report on Friday, August 1st. Barclays increased their price target on shares of 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, Wall Street Zen raised shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $75.45.
Check Out Our Latest Research Report on FBIN
Fortune Brands Innovations Stock Performance
Shares of Fortune Brands Innovations stock traded up $0.49 during midday trading on Thursday, hitting $57.40. The company had a trading volume of 1,993,037 shares, compared to its average volume of 1,430,082. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 3.91 and a beta of 1.32. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The company has a fifty day simple moving average of $57.27 and a 200 day simple moving average of $55.44. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month high of $90.54.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. Fortune Brands Innovations's revenue was down 3.0% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.
Fortune Brands Innovations Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 22nd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend 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 29,792 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 180,625 shares of the company's stock, valued at $10,664,100. This trade represents a 14.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.
About Fortune Brands Innovations
(
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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