Hsbc Holdings PLC Acquires 59,255 Shares of Fortune Brands Innovations, Inc. $FBIN

Hsbc Holdings PLC boosted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 88.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 126,215 shares of the company’s stock after acquiring an additional 59,255 shares during the quarter. Hsbc Holdings PLC owned 0.11% of Fortune Brands Innovations worth $6,512,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FBIN. Elevation Point Wealth Partners LLC bought a new position in shares of Fortune Brands Innovations in the second quarter valued at approximately $26,000. National Pension Service raised its position in Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company’s stock valued at $28,000 after buying an additional 199 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Fortune Brands Innovations by 119.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock valued at $28,000 after acquiring an additional 293 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new position in Fortune Brands Innovations during the 2nd quarter worth $34,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth $37,000. 87.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FBIN has been the topic of a number of recent analyst reports. Royal Bank Of Canada dropped their price target on shares of Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Truist Financial restated a “hold” rating and issued a $60.00 target price (down previously from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Evercore ISI reaffirmed an “outperform” rating on shares of Fortune Brands Innovations in a research report on Friday, October 31st. Vertical Research initiated coverage on Fortune Brands Innovations in a report on Tuesday, October 21st. They set a “hold” rating and a $52.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Monday. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $64.40.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $50.70 on Friday. The firm has a market cap of $6.09 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 3.80 and a beta of 1.40. The company has a quick ratio of 0.94, a current ratio of 1.95 and a debt-to-equity ratio of 1.12. The company’s 50 day moving average is $50.13 and its 200-day moving average is $53.16. Fortune Brands Innovations, Inc. has a 12-month low of $44.04 and a 12-month high of $80.18.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data 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). The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Fortune Brands Innovations had a net margin of 7.30% and a return on equity of 19.28%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. 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 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The business 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 $0.25 dividend. The ex-dividend date is Friday, November 21st. This represents a $1.00 annualized dividend and a yield of 2.0%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 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.