United Services Automobile Association Takes $503,000 Position in Fortune Brands Innovations, Inc. $FBIN

Key Points

• United Services Automobile Association purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN), acquiring 8,263 shares valued at approximately $503,000.
• Analysts have mixed expectations, with a consensus rating of "Hold" and an average price target of $75.45 for Fortune Brands Innovations.
• CEO Nicholas I. Fink sold 29,792 shares of the company for approximately $1.76 million, marking a 14.16% decrease in his ownership stake.

United Services Automobile Association purchased a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,263 shares of the company's stock, valued at approximately $503,000.

Several other institutional investors also recently added to or reduced their stakes in FBIN. Cetera Investment Advisers grew its stake in Fortune Brands Innovations by 9.1% in the 4th quarter. Cetera Investment Advisers now owns 9,358 shares of the company's stock worth $639,000 after acquiring an additional 777 shares in the last quarter. Deutsche Bank AG grew its stake in Fortune Brands Innovations by 2.4% in the fourth quarter. Deutsche Bank AG now owns 280,177 shares of the company's stock worth $19,144,000 after purchasing an additional 6,515 shares in the last quarter. Ensign Peak Advisors Inc grew its stake in Fortune Brands Innovations by 2.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 51,564 shares of the company's stock worth $3,523,000 after purchasing an additional 1,303 shares in the last quarter. Gotham Asset Management LLC increased its holdings in Fortune Brands Innovations by 5.5% during the 4th quarter. Gotham Asset Management LLC now owns 68,507 shares of the company's stock worth $4,681,000 after purchasing an additional 3,588 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Fortune Brands Innovations during the 4th quarter valued at $1,355,000. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Down 2.2%

FBIN traded down $1.31 during trading on Friday, hitting $59.44. The stock had a trading volume of 1,909,758 shares, compared to its average volume of 1,369,917. The stock has a 50 day simple moving average of $56.93 and a two-hundred day simple moving average of $55.56. 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 twelve month low of $47.21 and a twelve month high of $90.54. The company has a market capitalization of $7.14 billion, a PE ratio of 18.69, a PEG ratio of 4.17 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business's quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Nicholas I. Fink sold 1,522 shares of the business'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 owned 97,139 shares in the company, valued at approximately $5,704,002.08. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FBIN shares. Royal Bank Of Canada raised Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Loop Capital reaffirmed a "hold" rating and issued a $61.00 price objective (up from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Truist Financial reissued a "hold" rating and set a $60.00 target price (down previously from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. UBS Group boosted their price target on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $75.45.

Fortune Brands Innovations 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.