Amalgamated Bank Sells 1,875 Shares of Fortune Brands Innovations, Inc. $FBIN

Amalgamated Bank reduced its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,045 shares of the company’s stock after selling 1,875 shares during the quarter. Amalgamated Bank’s holdings in Fortune Brands Innovations were worth $2,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FBIN. Wellington Management Group LLP raised its holdings in Fortune Brands Innovations by 113.5% during the 1st quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock worth $373,079,000 after purchasing an additional 3,257,428 shares during the last quarter. Generation Investment Management LLP bought a new stake in Fortune Brands Innovations during the 1st quarter worth about $98,157,000. First Pacific Advisors LP raised its holdings in Fortune Brands Innovations by 152.2% during the 2nd quarter. First Pacific Advisors LP now owns 1,998,397 shares of the company’s stock worth $102,877,000 after purchasing an additional 1,205,880 shares during the last quarter. Orbis Allan Gray Ltd bought a new stake in Fortune Brands Innovations during the 1st quarter worth about $46,464,000. Finally, Amundi raised its holdings in Fortune Brands Innovations by 24.1% during the 1st quarter. Amundi now owns 2,861,900 shares of the company’s stock worth $169,975,000 after purchasing an additional 555,036 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 29,792 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 180,625 shares of the company’s stock, valued at $10,664,100. This represents a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $50.54 on Tuesday. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $86.96. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 1.97. The stock has a 50 day simple moving average of $54.19 and a 200 day simple moving average of $53.84. The firm has a market capitalization of $6.07 billion, a PE ratio of 15.89, a P/E/G ratio of 4.37 and a beta of 1.33.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.01). Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the company earned $1.16 EPS. The company’s revenue was down .5% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS 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. Shareholders of record on Friday, November 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. Fortune Brands Innovations’s dividend payout ratio is 37.31%.

Analysts Set New Price Targets

Several research firms have recently issued reports on FBIN. Weiss Ratings restated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Tuesday, October 14th. Royal Bank Of Canada decreased their target price on Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday. Barclays decreased their target price on Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday. Loop Capital restated a “hold” rating and set a $61.00 target price (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Finally, Truist Financial restated a “hold” rating and set a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $64.40.

Fortune Brands Innovations 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.