Insider Selling: Fortune Brands Innovations (NYSE:FBIN) CEO Sells 29,792 Shares of Stock

Key Points

• CEO Nicholas Fink of Fortune Brands Innovations sold 29,792 shares at an average price of $59.04, totaling approximately $1.76 million, reducing his ownership by 14.16%.
• The company reported $1.00 earnings per share for the last quarter, exceeding the consensus estimate by $0.02, but saw a 3.0% year-over-year revenue decline.
• Fortune Brands Innovations announced a quarterly dividend of $0.25 per share, yielding 1.7%, with a payout ratio of 31.45%.

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) CEO Nicholas Fink sold 29,792 shares of Fortune Brands Innovations stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $59.04, for a total transaction of $1,758,919.68. Following the transaction, the chief executive officer owned 180,625 shares of the company's stock, valued at $10,664,100. This represents a 14.16% 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.

Fortune Brands Innovations Stock Up 1.8%

Shares of NYSE FBIN traded up $1.0330 during mid-day trading on Tuesday, reaching $59.9130. 1,213,161 shares of the company's stock traded hands, compared to its average volume of 2,033,996. The stock has a market cap of $7.19 billion, a P/E ratio of 18.84, a PEG ratio of 4.04 and a beta of 1.32. The business has a 50-day simple moving average of $54.18 and a 200 day simple moving average of $56.65. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The firm'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. On average, analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be issued 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 of this dividend is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio is 31.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FBIN shares. 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 boosted their price target 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. Truist Financial set a $65.00 price target on shares of Fortune Brands Innovations in a research note on Wednesday, May 7th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $75.91.

Institutional Trading of Fortune Brands Innovations

Institutional investors have recently made changes to their positions in the stock. von Borstel & Associates Inc. purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at about $26,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Fortune Brands Innovations during the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company's stock valued at $27,000 after acquiring an additional 323 shares during the last quarter. National Pension Service boosted its holdings in shares of Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company's stock valued at $28,000 after acquiring an additional 199 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Fortune Brands Innovations by 119.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company's stock valued at $28,000 after acquiring an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

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.

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