Atlantic Union Bankshares Corp Acquires Shares of 3,729 Fortune Brands Innovations, Inc. $FBIN

Atlantic Union Bankshares Corp bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,729 shares of the company’s stock, valued at approximately $192,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FBIN. Townsquare Capital LLC raised its position in Fortune Brands Innovations by 3.3% during the first quarter. Townsquare Capital LLC now owns 6,236 shares of the company’s stock worth $380,000 after acquiring an additional 197 shares during the period. National Pension Service increased its stake in shares of Fortune Brands Innovations by 74.5% during the first quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after purchasing an additional 199 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Fortune Brands Innovations by 20.8% during the second quarter. Raleigh Capital Management Inc. now owns 1,229 shares of the company’s stock worth $63,000 after purchasing an additional 212 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Fortune Brands Innovations by 6.2% during the 1st 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 last quarter. Finally, Stephens Inc. AR lifted its stake in Fortune Brands Innovations by 6.5% in the 2nd quarter. Stephens Inc. AR now owns 4,530 shares of the company’s stock valued at $233,000 after buying an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $49.70 on Monday. 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’s fifty day moving average is $53.44 and its two-hundred day moving average is $53.80. The firm has a market capitalization of $5.97 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 4.37 and a beta of 1.32. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $81.93.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.01). The company 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 was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. On average, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.0%. Fortune Brands Innovations’s payout ratio is 37.31%.

Wall Street Analysts Forecast Growth

FBIN has been the subject of several research reports. Evercore ISI reiterated an “outperform” rating on shares of Fortune Brands Innovations in a research note on Friday, October 31st. Royal Bank Of Canada lowered their price target on Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Loop Capital reissued a “hold” rating and issued a $61.00 price objective (up from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Barclays lowered their target price on shares of 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. Finally, Truist Financial reaffirmed a “hold” rating and set a $60.00 target price (down previously from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $64.40.

Insiders Place Their Bets

In related 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 value of $1,758,919.68. Following the transaction, the chief executive officer directly owned 180,625 shares in the company, valued at approximately $10,664,100. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by insiders.

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.