Vident Advisory LLC Makes New $1.07 Million Investment in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Vident Advisory LLC invested $1.07 million in Fortune Brands Innovations, purchasing 17,560 shares, reflecting increased institutional interest in the company.
• CEO Nicholas I. Fink sold 29,792 shares of the company's stock, resulting in a 14.16% decrease in his ownership stake.
• Fortune Brands Innovations reported a quarterly EPS of $1.00, beating estimates, but faced a 3.0% decline in revenue year-over-year.

Vident Advisory LLC purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,560 shares of the company's stock, valued at approximately $1,069,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. von Borstel & Associates Inc. acquired a new stake in Fortune Brands Innovations during the 1st quarter worth $26,000. National Pension Service lifted its position in Fortune Brands Innovations by 74.5% during the first quarter. National Pension Service now owns 466 shares of the company's stock valued at $28,000 after purchasing an additional 199 shares during the last quarter. CX Institutional bought a new position in Fortune Brands Innovations in the 1st quarter worth $29,000. Alpine Bank Wealth Management purchased a new position in shares of Fortune Brands Innovations during the first quarter valued at approximately $62,000. Finally, Raleigh Capital Management Inc. raised 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 purchasing an additional 224 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortune Brands Innovations

In other news, CEO Nicholas I. Fink sold 29,792 shares of the stock in a transaction 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 owned 180,625 shares in the company, valued at approximately $10,664,100. This represents a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

Fortune Brands Innovations Trading Down 0.7%

Shares of Fortune Brands Innovations stock traded down $0.40 during mid-day trading on Monday, hitting $60.42. The stock had a trading volume of 845,492 shares, compared to its average volume of 1,969,805. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month high of $90.54. The firm has a 50-day moving average of $56.29 and a two-hundred day moving average of $55.70. The firm has a market cap of $7.25 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 4.17 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.

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 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 business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared 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 dividend on an annualized basis 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 (DPR) is presently 31.45%.

Analyst Ratings Changes

Several research analysts have recently commented on FBIN shares. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Truist Financial reaffirmed a "hold" rating and set a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. UBS Group lifted their target price on 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 lifted their price target on 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, Loop Capital restated a "hold" rating and set a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Five 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.com, Fortune Brands Innovations presently has a consensus rating of "Hold" and an average price target of $75.45.

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.