Fortune Brands Innovations, Inc. $FBIN Shares Sold by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC lowered its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 15.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,000 shares of the company’s stock after selling 4,500 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Fortune Brands Innovations were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Geneva Capital Management LLC boosted its stake in Fortune Brands Innovations by 2.9% during the 2nd quarter. Geneva Capital Management LLC now owns 66,975 shares of the company’s stock worth $3,448,000 after purchasing an additional 1,896 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Fortune Brands Innovations by 289.2% in the second quarter. Hantz Financial Services Inc. now owns 1,374 shares of the company’s stock valued at $71,000 after buying an additional 1,021 shares during the last quarter. First Pacific Advisors LP raised its holdings in shares of Fortune Brands Innovations by 152.2% in the second quarter. First Pacific Advisors LP now owns 1,998,397 shares of the company’s stock valued at $102,877,000 after buying an additional 1,205,880 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Fortune Brands Innovations by 63.0% during the second quarter. Teacher Retirement System of Texas now owns 29,593 shares of the company’s stock worth $1,523,000 after buying an additional 11,433 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Fortune Brands Innovations during the second quarter worth about $6,758,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $50.86 on Monday. The firm’s fifty day simple moving average is $54.38 and its 200-day simple moving average is $53.85. 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 stock has a market cap of $6.10 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 4.37 and a beta of 1.33. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $86.96.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.01). Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business earned $1.16 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. Analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. Fortune Brands Innovations’s payout ratio is 37.31%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Loop Capital reaffirmed a “hold” rating and set a $61.00 price objective (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Truist Financial restated a “hold” rating and set a $60.00 price target (down previously from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Barclays decreased their price target on Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Friday. UBS Group dropped their price objective on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Tuesday, October 14th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $64.40.

Insider Buying and Selling at Fortune Brands Innovations

In related news, CEO Nicholas I. Fink sold 1,522 shares of the firm’s 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 transaction, the chief executive officer directly owned 97,139 shares of the company’s stock, valued at $5,704,002.08. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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.