Nicholas Fink Sells 29,792 Shares of Fortune Brands Innovations (NYSE:FBIN) Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) CEO Nicholas Fink sold 29,792 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $59.04, for a total value of $1,758,919.68. Following the completion of the transaction, the chief executive officer directly owned 180,625 shares of the company’s stock, valued at approximately $10,664,100. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Fortune Brands Innovations Trading Down 3.6%

Shares of Fortune Brands Innovations stock opened at $57.7290 on Thursday. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 4.11 and a beta of 1.32. The company has a quick ratio of 0.98, a current ratio of 1.97 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 firm’s 50-day moving average price is $54.30 and its two-hundred day moving average price is $56.66.

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 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 period in the previous year, the company earned $1.16 EPS. The business’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 forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

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. The ex-dividend date is Friday, August 22nd. This represents a $1.00 annualized dividend and a yield of 1.7%. Fortune Brands Innovations’s dividend payout ratio is presently 31.45%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FBIN. Robert W. Baird decreased their price target on Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Loop Capital reaffirmed a “hold” rating and issued a $61.00 price objective (up from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research note on Wednesday, May 7th. Barclays raised their price target 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. Finally, Wall Street Zen raised shares of Fortune Brands Innovations from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $75.91.

Institutional Trading of Fortune Brands Innovations

Hedge funds have recently made changes to their positions in the company. Man Group plc acquired a new position in shares of Fortune Brands Innovations in the fourth quarter valued at approximately $344,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Fortune Brands Innovations by 8.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 271,928 shares of the company’s stock worth $16,555,000 after buying an additional 20,206 shares during the period. Teacher Retirement System of Texas bought a new stake in Fortune Brands Innovations during the 1st quarter worth approximately $1,106,000. Wealth Enhancement Advisory Services LLC increased its position in Fortune Brands Innovations by 15.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,537 shares of the company’s stock valued at $763,000 after acquiring an additional 1,660 shares during the period. Finally, GAMMA Investing LLC increased its position in Fortune Brands Innovations by 6,418.5% in the 1st quarter. GAMMA Investing LLC now owns 109,706 shares of the company’s stock valued at $6,679,000 after acquiring an additional 108,023 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

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.