Southeast Asset Advisors LLC Has $1.89 Million Stock Position in Fortune Brands Innovations, Inc. $FBIN

Southeast Asset Advisors LLC trimmed its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 25.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,709 shares of the company’s stock after selling 12,835 shares during the quarter. Southeast Asset Advisors LLC’s holdings in Fortune Brands Innovations were worth $1,890,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in shares of Fortune Brands Innovations by 8.9% in the first quarter. Envestnet Asset Management Inc. now owns 50,213 shares of the company’s stock valued at $3,057,000 after buying an additional 4,109 shares during the period. CWM LLC grew its holdings in shares of Fortune Brands Innovations by 13.3% during the 1st quarter. CWM LLC now owns 2,933 shares of the company’s stock worth $179,000 after purchasing an additional 344 shares in the last quarter. AE Wealth Management LLC increased its position in shares of Fortune Brands Innovations by 161.5% in the first quarter. AE Wealth Management LLC now owns 12,124 shares of the company’s stock worth $738,000 after purchasing an additional 7,488 shares during the period. Cetera Investment Advisers lifted its position in Fortune Brands Innovations by 3.1% during the first quarter. Cetera Investment Advisers now owns 9,651 shares of the company’s stock worth $588,000 after purchasing an additional 293 shares during the period. Finally, HB Wealth Management LLC lifted its position in Fortune Brands Innovations by 6.2% during the first quarter. HB Wealth Management LLC now owns 4,220 shares of the company’s stock worth $257,000 after purchasing an additional 247 shares during the period. Institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

FBIN has been the subject of several analyst reports. Truist Financial restated a “hold” rating and issued a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Barclays decreased their price target on Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. UBS Group dropped their price objective on Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Evercore ISI reaffirmed an “outperform” rating on shares of Fortune Brands Innovations in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Monday, November 17th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.40.

Fortune Brands Innovations Stock Up 0.3%

Shares of NYSE:FBIN opened at $47.20 on Tuesday. The firm has a market cap of $5.67 billion, a P/E ratio of 14.84, a P/E/G ratio of 4.37 and a beta of 1.32. Fortune Brands Innovations, Inc. has a 12-month low of $44.04 and a 12-month high of $81.93. The business has a fifty day simple moving average of $50.81 and a 200 day simple moving average of $53.35. 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 (NYSE:FBIN) last issued 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 company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. Analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

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 given a $0.25 dividend. The ex-dividend date is Friday, November 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. Fortune Brands Innovations’s payout ratio is 37.31%.

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.