GAMMA Investing LLC Has $117,000 Stake in Fortune Brands Innovations, Inc. $FBIN

GAMMA Investing LLC raised its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 26.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,272 shares of the company’s stock after purchasing an additional 470 shares during the quarter. GAMMA Investing LLC’s holdings in Fortune Brands Innovations were worth $117,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FBIN. Townsquare Capital LLC grew its holdings in shares of Fortune Brands Innovations by 3.3% in the 1st quarter. Townsquare Capital LLC now owns 6,236 shares of the company’s stock valued at $380,000 after acquiring an additional 197 shares in the last quarter. National Pension Service raised its stake in shares of Fortune Brands Innovations by 74.5% during the 1st 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. Baker Ellis Asset Management LLC raised its stake in shares of Fortune Brands Innovations by 0.4% during the 1st quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company’s stock worth $3,750,000 after purchasing an additional 219 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Fortune Brands Innovations by 28.2% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company’s stock worth $62,000 after purchasing an additional 224 shares in the last quarter. Finally, HB Wealth Management LLC raised its stake 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 in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $58.72, for a total transaction of $89,371.84. Following the transaction, the chief executive officer directly owned 97,139 shares in the company, valued at approximately $5,704,002.08. This trade represents a 1.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FBIN. Barclays upped their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock 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 restated a “hold” rating and set a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Finally, UBS Group increased their price target on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a report on Friday, August 1st. Five equities research 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 currently has an average rating of “Hold” and a consensus target price of $75.45.

Fortune Brands Innovations Trading Down 0.9%

NYSE FBIN opened at $52.91 on Thursday. 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, Inc. has a twelve month low of $47.21 and a twelve month high of $90.50. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 3.66 and a beta of 1.33. The business’s fifty day moving average is $57.24 and its 200 day moving average is $54.92.

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

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio is currently 31.45%.

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.