Fortune Brands Innovations, Inc. $FBIN Shares Sold by IFM Investors Pty Ltd

by · The Cerbat Gem

IFM Investors Pty Ltd lowered its position in Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 9.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,987 shares of the company’s stock after selling 2,529 shares during the period. IFM Investors Pty Ltd’s holdings in Fortune Brands Innovations were worth $1,399,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Fortune Brands Innovations by 0.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,268,383 shares of the company’s stock valued at $77,219,000 after purchasing an additional 6,205 shares during the period. Empowered Funds LLC lifted its position in Fortune Brands Innovations by 20.5% in the first quarter. Empowered Funds LLC now owns 10,335 shares of the company’s stock valued at $629,000 after purchasing an additional 1,761 shares during the period. United Services Automobile Association acquired a new stake in Fortune Brands Innovations in the first quarter valued at about $503,000. Everstar Asset Management LLC acquired a new stake in Fortune Brands Innovations in the first quarter valued at about $5,556,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in Fortune Brands Innovations by 16.9% in the first quarter. Dynamic Technology Lab Private Ltd now owns 18,723 shares of the company’s stock valued at $1,140,000 after purchasing an additional 2,713 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

FBIN stock opened at $59.44 on Friday. The firm has a 50 day moving average of $56.93 and a 200-day moving average of $55.63. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month high of $90.54. 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 $7.14 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 4.17 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the firm posted $1.16 EPS. The company’s quarterly revenue 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. As a group, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

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

Insider Activity

In related news, 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 transaction of $1,758,919.68. Following the completion of the transaction, the chief executive officer directly 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 SEC, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FBIN has been the subject of a number of recent analyst reports. Barclays raised 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 report on Friday, August 1st. Truist Financial reiterated a “hold” rating and set a $60.00 price target (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $59.00 to $65.00 in a research report on Friday, August 1st. UBS Group lifted their price target on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Loop Capital reiterated a “hold” rating and set a $61.00 price target (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.45.

View Our Latest Research Report on FBIN

About Fortune Brands Innovations

(Free Report)

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.

Further Reading

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