Whittier Trust Co. Has $145,000 Position in Fortune Brands Innovations, Inc. $FBIN

Whittier Trust Co. lowered its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,818 shares of the company’s stock after selling 280 shares during the period. Whittier Trust Co.’s holdings in Fortune Brands Innovations were worth $145,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Townsquare Capital LLC increased its holdings in Fortune Brands Innovations by 3.3% in the first quarter. Townsquare Capital LLC now owns 6,236 shares of the company’s stock worth $380,000 after buying an additional 197 shares during the last quarter. National Pension Service increased its holdings in Fortune Brands Innovations by 74.5% in the first quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after buying an additional 199 shares during the last quarter. Raleigh Capital Management Inc. increased its holdings in Fortune Brands Innovations by 20.8% in the second quarter. Raleigh Capital Management Inc. now owns 1,229 shares of the company’s stock worth $63,000 after buying an additional 212 shares during the last quarter. HB Wealth Management LLC increased its holdings in Fortune Brands Innovations by 6.2% in the first quarter. HB Wealth Management LLC now owns 4,220 shares of the company’s stock worth $257,000 after buying an additional 247 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in Fortune Brands Innovations by 6.5% in the second quarter. Stephens Inc. AR now owns 4,530 shares of the company’s stock worth $233,000 after buying an additional 275 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Buying and Selling at Fortune Brands Innovations

In other news, CEO Nicholas I. Fink sold 1,522 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $58.72, for a total value of $89,371.84. Following the completion of the sale, the chief executive officer directly owned 97,139 shares of the company’s stock, valued at approximately $5,704,002.08. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Fortune Brands Innovations Trading Down 1.8%

Shares of FBIN stock opened at $50.76 on Friday. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $88.01. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The company has a market cap of $6.09 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 4.54 and a beta of 1.33. The business’s 50 day moving average is $55.24 and its two-hundred day moving average is $53.85.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.00 earnings per share 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 company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the business earned $1.16 earnings per share. Fortune Brands Innovations’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. Equities analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio is currently 31.45%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FBIN shares. Barclays increased their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. UBS Group increased their price target on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a report on Friday, August 1st. Royal Bank Of Canada upgraded 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. Truist Financial reiterated a “hold” rating and set a $60.00 price target (down previously from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus target price of $67.60.

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.