Fortune Brands Innovations, Inc. $FBIN Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 21,474 shares of the company’s stock after selling 548 shares during the quarter. Bleakley Financial Group LLC’s holdings in Fortune Brands Innovations were worth $1,105,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FBIN. Wellington Management Group LLP raised its stake in shares of Fortune Brands Innovations by 113.5% in the 1st quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock worth $373,079,000 after buying an additional 3,257,428 shares in the last quarter. Generation Investment Management LLP bought a new stake in shares of Fortune Brands Innovations in the 1st quarter worth $98,157,000. Orbis Allan Gray Ltd bought a new stake in shares of Fortune Brands Innovations in the 1st quarter worth $46,464,000. Amundi raised its stake in shares of Fortune Brands Innovations by 24.1% in the 1st quarter. Amundi now owns 2,861,900 shares of the company’s stock worth $169,975,000 after buying an additional 555,036 shares in the last quarter. Finally, First Pacific Advisors LP raised its stake in shares of Fortune Brands Innovations by 220.8% in the 1st quarter. First Pacific Advisors LP now owns 792,517 shares of the company’s stock worth $48,248,000 after buying an additional 545,499 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays boosted their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Tuesday, October 14th. Truist Financial reissued a “hold” rating and issued a $60.00 price objective (down previously from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Vertical Research assumed coverage on Fortune Brands Innovations in a research report on Tuesday. They set a “hold” rating and a $52.00 target price on the stock. Finally, Royal Bank Of Canada raised Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $67.60.

Insiders Place Their Bets

In related news, CEO Nicholas I. Fink sold 29,792 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 180,625 shares of the company’s stock, valued at approximately $10,664,100. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Fortune Brands Innovations Stock Down 1.8%

Shares of Fortune Brands Innovations stock opened at $50.76 on Friday. The stock’s fifty day moving average is $55.24 and its 200-day moving average is $53.88. The firm has a market capitalization of $6.09 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 4.46 and a beta of 1.33. 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 $88.01.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.Fortune Brands Innovations’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

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

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.