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

Fortune Brands Innovations, Inc. (NYSE:FBIN) CEO Nicholas Fink sold 1,522 shares of the 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 sale, the chief executive officer owned 97,139 shares in the company, valued at approximately $5,704,002.08. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $57.7290 on Thursday. The business’s fifty day simple moving average is $54.30 and its two-hundred day simple moving average is $56.66. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 4.11 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Thursday, July 31st. The company reported $1.00 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 business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $1.16 EPS. The company’s 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. Research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 31.45%.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of institutional investors have recently bought and sold shares of the stock. Townsquare Capital LLC raised its holdings in Fortune Brands Innovations by 3.3% in the 1st quarter. Townsquare Capital LLC now owns 6,236 shares of the company’s stock worth $380,000 after purchasing an additional 197 shares during the period. National Pension Service increased its stake in Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after buying an additional 199 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in Fortune Brands Innovations by 20.8% in the 2nd quarter. Raleigh Capital Management Inc. now owns 1,229 shares of the company’s stock worth $63,000 after buying an additional 212 shares in the last quarter. Baker Ellis Asset Management LLC increased its stake in Fortune Brands Innovations by 0.4% in the 1st quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company’s stock worth $3,750,000 after buying an additional 219 shares in the last quarter. Finally, HB Wealth Management LLC increased its stake in Fortune Brands Innovations by 6.2% in the 1st quarter. HB Wealth Management LLC now owns 4,220 shares of the company’s stock worth $257,000 after buying an additional 247 shares in the last quarter. 87.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on FBIN. Wall Street Zen upgraded Fortune Brands Innovations from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. UBS Group increased their target price on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Barclays increased their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Royal Bank Of Canada raised Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $59.00 to $65.00 in a report on Friday, August 1st. Finally, Truist Financial set a $65.00 price target on Fortune Brands Innovations in a report on Wednesday, May 7th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $75.91.

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.