United Services Automobile Association bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,263 shares of the company's stock, valued at approximately $503,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of FBIN. Wellington Management Group LLP increased its holdings in Fortune Brands Innovations by 113.5% during the 1st 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 period. Generation Investment Management LLP purchased a new position in Fortune Brands Innovations in the 1st quarter worth approximately $98,157,000. Orbis Allan Gray Ltd purchased a new position in Fortune Brands Innovations in the 1st quarter worth approximately $46,464,000. Amundi grew its stake in Fortune Brands Innovations by 24.1% in the 1st quarter. Amundi now owns 2,861,900 shares of the company's stock worth $169,975,000 after buying an additional 555,036 shares in the last quarter. Finally, First Pacific Advisors LP grew its stake in Fortune Brands Innovations by 220.8% in the 1st quarter. First Pacific Advisors LP now owns 792,517 shares of the company's stock worth $48,248,000 after buying an additional 545,499 shares in the last quarter. Institutional investors own 87.60% of the company's stock.
Insiders Place Their Bets
In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $58.72, for a total transaction of $89,371.84. Following the completion of the sale, the chief executive officer directly owned 97,139 shares in the company, valued at approximately $5,704,002.08. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Loop Capital reissued a "hold" rating and issued a $61.00 price target (up previously from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. UBS Group upped their price objective on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Barclays upped their price objective on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Truist Financial reaffirmed a "hold" rating and issued a $60.00 price objective (down previously from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $75.45.
Get Our Latest Stock Report on FBIN
Fortune Brands Innovations Stock Down 0.5%
Shares of Fortune Brands Innovations stock traded down $0.31 during trading on Tuesday, hitting $58.16. The company's stock had a trading volume of 201,687 shares, compared to its average volume of 1,951,552. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 1.97. The company has a fifty day simple moving average of $57.06 and a two-hundred day simple moving average of $55.45. The company has a market capitalization of $6.98 billion, a PE ratio of 18.28, a P/E/G ratio of 4.07 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 released its quarterly earnings data on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.02. The business 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% compared to the same quarter last year. During the same period last year, the business earned $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.
Fortune Brands Innovations Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is currently 31.45%.
Fortune Brands Innovations Company Profile
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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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