Strs Ohio Makes New Investment in Fortune Brands Innovations, Inc. $FBIN

Strs Ohio bought a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,332 shares of the company’s stock, valued at approximately $1,055,000.

Several other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Fortune Brands Innovations by 113.5% in the 1st quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock valued at $373,079,000 after acquiring an additional 3,257,428 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Fortune Brands Innovations by 9.2% in the 1st quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company’s stock valued at $295,598,000 after acquiring an additional 409,466 shares in the last quarter. Amundi lifted its position in shares of Fortune Brands Innovations by 24.1% in the 1st 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fortune Brands Innovations by 22.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,351,110 shares of the company’s stock valued at $143,130,000 after acquiring an additional 426,929 shares in the last quarter. Finally, Fiduciary Management Inc. WI lifted its position in shares of Fortune Brands Innovations by 12.8% in the 1st quarter. Fiduciary Management Inc. WI now owns 2,291,860 shares of the company’s stock valued at $139,528,000 after acquiring an additional 260,218 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FBIN shares. Barclays upped their target price on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $59.00 to $65.00 in a research report on Friday, August 1st. Truist Financial reaffirmed a “hold” rating and set a $60.00 price objective (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Loop Capital reaffirmed a “hold” rating and set a $61.00 price objective (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Finally, UBS Group boosted their price objective on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Fortune Brands Innovations has an average rating of “Hold” and an average target price of $75.45.

Insider Buying and Selling

In related news, CEO Nicholas I. Fink sold 29,792 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 180,625 shares of the company’s stock, valued at $10,664,100. This trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Fortune Brands Innovations Stock Up 0.9%

FBIN opened at $57.40 on Friday. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 3.91 and a beta of 1.32. The business has a 50 day moving average of $57.27 and a 200-day moving average of $55.44.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the business earned $1.16 earnings per share. Fortune Brands Innovations’s revenue for the quarter was down 3.0% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 22nd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is 31.45%.

Fortune Brands Innovations Company 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.