Fortune Brands Innovations, Inc. (NYSE:FBIN) Short Interest Up 25.5% in August

Key Points

• Short interest in Fortune Brands Innovations, Inc. rose by 25.5% in August, totaling 4,620,000 shares, which represents 3.9% of the company's shares sold short.
• Analysts have issued mixed ratings for FBIN, with the consensus suggesting a "Hold" status and a price target averaging $75.45.
• The company declared a quarterly dividend of $0.25 per share, yielding 1.8%, and has set its FY 2025 EPS guidance between 3.750 and 3.950.

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 4,620,000 shares, an increase of 25.5% from the August 15th total of 3,680,000 shares. Based on an average daily volume of 1,900,000 shares, the short-interest ratio is presently 2.4 days. Approximately 3.9% of the company's shares are sold short. Approximately 3.9% of the company's shares are sold short. Based on an average daily volume of 1,900,000 shares, the short-interest ratio is presently 2.4 days.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN traded up $0.49 during midday trading on Thursday, hitting $57.40. 1,993,037 shares of the stock traded hands, compared to its average volume of 1,430,082. Fortune Brands Innovations has a one year low of $47.21 and a one year high of $90.54. The firm has a market capitalization of $6.89 billion, a P/E ratio of 18.05, a PEG ratio of 3.91 and a beta of 1.32. 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 firm has a 50-day moving average of $57.27 and a two-hundred day moving average of $55.44.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued 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. The business had revenue of $1.20 billion for 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 company's revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, equities analysts forecast that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 22nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.00 annualized dividend and a yield of 1.7%. Fortune Brands Innovations's dividend payout ratio is currently 31.45%.

Analyst Ratings Changes

FBIN has been the topic of several recent research reports. Truist Financial reaffirmed a "hold" rating and issued a $60.00 price target (down from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Wall Street Zen raised shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. UBS Group upped their price objective on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Barclays lifted their target price on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $75.45.

Insider Transactions at Fortune Brands Innovations

In related news, CEO Nicholas I. Fink sold 29,792 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 180,625 shares in the company, valued at $10,664,100. The trade was a 14.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in shares of Fortune Brands Innovations by 74.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 51,162 shares of the company's stock valued at $2,634,000 after purchasing an additional 21,802 shares during the last quarter. State of Wyoming raised its position in Fortune Brands Innovations by 177.1% in the 2nd quarter. State of Wyoming now owns 6,340 shares of the company's stock worth $326,000 after purchasing an additional 4,052 shares during the period. Nomura Holdings Inc. purchased a new stake in Fortune Brands Innovations in the 2nd quarter worth about $274,000. Geneos Wealth Management Inc. raised its position in Fortune Brands Innovations by 30.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,108 shares of the company's stock worth $57,000 after purchasing an additional 256 shares during the period. Finally, Caxton Associates LLP purchased a new stake in Fortune Brands Innovations in the 2nd quarter worth about $2,717,000. 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.