Police & Firemen s Retirement System of New Jersey Has $2.39 Million Position in Fortune Brands Innovations, Inc. $FBIN

Police & Firemen s Retirement System of New Jersey increased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,337 shares of the company’s stock after acquiring an additional 1,527 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Fortune Brands Innovations were worth $2,385,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of 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 in the last quarter. Generation Investment Management LLP acquired a new position in Fortune Brands Innovations during the 1st quarter worth approximately $98,157,000. First Pacific Advisors LP boosted its holdings in 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 worth $102,877,000 after acquiring an additional 1,205,880 shares in the last quarter. Orbis Allan Gray Ltd bought a new position in Fortune Brands Innovations in the first quarter worth approximately $46,464,000. Finally, Amundi grew its stake in Fortune Brands Innovations by 24.1% in the first quarter. Amundi now owns 2,861,900 shares of the company’s stock valued at $169,975,000 after acquiring an additional 555,036 shares during the period. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $45.29 on Wednesday. The company has a fifty day moving average price of $51.89 and a 200-day moving average price of $53.51. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 4.37 and a beta of 1.32. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98. Fortune Brands Innovations, Inc. has a 1 year low of $44.87 and a 1 year high of $81.93.

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 the consensus estimate of $1.10 by ($0.01). The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. As a group, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

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 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 37.31%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FBIN shares. Barclays lowered their target price on Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Royal Bank Of Canada lowered their price objective on shares of Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Vertical Research initiated coverage on shares of Fortune Brands Innovations in a report on Tuesday, October 21st. They set a “hold” rating and a $52.00 price objective for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Monday. Finally, Loop Capital reaffirmed a “hold” rating and issued a $61.00 price target (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average price target 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.