Nicholas I. Fink Sells 29,792 Shares of Fortune Brands Innovations (NYSE:FBIN) 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 I. Fink sold 29,792 shares of Fortune Brands Innovations stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $59.04, for a total value of $1,758,919.68. Following the sale, the chief executive officer directly owned 180,625 shares of the company's stock, valued at approximately $10,664,100. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Fortune Brands Innovations Stock Performance

NYSE FBIN traded up $4.0250 on Friday, reaching $61.5050. The stock had a trading volume of 1,868,188 shares, compared to its average volume of 1,988,147. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98. The company has a market cap of $7.38 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 4.22 and a beta of 1.32. The firm has a fifty day moving average of $54.64 and a two-hundred day moving average of $56.35. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the business posted $1.16 earnings per share. Fortune Brands Innovations's quarterly revenue was down 3.0% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is currently 31.45%.

Institutional Trading of Fortune Brands Innovations

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in shares of 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 worth $373,079,000 after buying an additional 3,257,428 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Fortune Brands Innovations by 9.2% during the first quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company's stock worth $295,598,000 after acquiring an additional 409,466 shares during the last quarter. Amundi grew its stake in Fortune Brands Innovations by 24.1% during the first quarter. Amundi now owns 2,861,900 shares of the company's stock worth $169,975,000 after purchasing an additional 555,036 shares during the period. Dimensional Fund Advisors LP grew its stake in Fortune Brands Innovations by 22.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,351,110 shares of the company's stock worth $143,130,000 after purchasing an additional 426,929 shares during the period. Finally, Fiduciary Management Inc. WI grew its stake in Fortune Brands Innovations by 12.8% during the first quarter. Fiduciary Management Inc. WI now owns 2,291,860 shares of the company's stock worth $139,528,000 after purchasing an additional 260,218 shares during the period. Institutional investors own 87.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FBIN shares. Robert W. Baird dropped their price target 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. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Barclays raised their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Loop Capital restated a "hold" rating and issued a $61.00 price target (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Finally, UBS Group raised their price target on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.