Fortune Brands Innovations (NYSE:FBIN) CEO Nicholas Fink Sells 1,522 Shares

Key Points

• Fortune Brands Innovations CEO Nicholas Fink sold 1,522 shares of the company's stock for $89,371.84, reducing his ownership by 1.54%, now holding 97,139 shares valued at approximately $5.7 million.
• The company reported $1.00 earnings per share for the last quarter, exceeding expectations, but a 3% decrease in revenue year-over-year.
• A quarterly dividend of $0.25 has been declared, representing a 1.7% yield, with the ex-dividend date set for August 22nd.

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) CEO Nicholas Fink sold 1,522 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $58.72, for a total value 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 represents a 1.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Fortune Brands Innovations Price Performance

FBIN stock traded up $1.0330 during trading on Tuesday, hitting $59.9130. The company had a trading volume of 1,213,161 shares, compared to its average volume of 2,033,996. The company has a fifty day moving average price of $54.18 and a two-hundred day moving average price of $56.65. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. The company has a market cap of $7.19 billion, a P/E ratio of 18.84, a P/E/G ratio of 4.04 and a beta of 1.32. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $1.16 EPS. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Equities research analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is currently 31.45%.

Institutional Trading of Fortune Brands Innovations

Several institutional investors have recently added to or reduced their stakes in FBIN. Wellington Management Group LLP lifted its position in Fortune Brands Innovations by 113.5% during the first quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company's stock valued at $373,079,000 after purchasing an additional 3,257,428 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Fortune Brands Innovations in the second quarter worth $87,611,000. Generation Investment Management LLP bought a new stake in Fortune Brands Innovations in the first quarter worth $98,157,000. Norges Bank bought a new stake in Fortune Brands Innovations in the second quarter worth $78,395,000. Finally, Balyasny Asset Management L.P. bought a new stake in Fortune Brands Innovations in the second quarter worth $77,441,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FBIN shares. UBS Group raised their price objective on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Robert W. Baird lowered their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th. Barclays increased their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Loop Capital reissued a "hold" rating and issued a $61.00 price target (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Fortune Brands Innovations currently has a consensus rating of "Moderate Buy" and an average price target of $75.91.

Fortune Brands Innovations Company 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.

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