Public Employees Retirement System of Ohio Sells 430 Shares of Fortune Brands Innovations, Inc. $FBIN

Public Employees Retirement System of Ohio reduced its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 40,360 shares of the company’s stock after selling 430 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Fortune Brands Innovations were worth $2,078,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FBIN. Townsquare Capital LLC lifted its position in shares of 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 purchasing an additional 197 shares during the last quarter. National Pension Service grew its stake in Fortune Brands Innovations by 74.5% in the first quarter. National Pension Service now owns 466 shares of the company’s stock valued at $28,000 after purchasing an additional 199 shares during the last quarter. Baker Ellis Asset Management LLC grew its stake in Fortune Brands Innovations by 0.4% in the first quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company’s stock valued at $3,750,000 after purchasing an additional 219 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in Fortune Brands Innovations by 28.2% in the first quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company’s stock valued at $62,000 after purchasing an additional 224 shares during the last quarter. Finally, HB Wealth Management LLC boosted its holdings in Fortune Brands Innovations by 6.2% in the first quarter. HB Wealth Management LLC now owns 4,220 shares of the company’s stock worth $257,000 after acquiring an additional 247 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. 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. Barclays lifted their target price on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Loop Capital restated a “hold” rating and issued a $61.00 price objective (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. 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 company from $59.00 to $65.00 in a report on Friday, August 1st. Finally, UBS Group upped their target price on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $75.45.

Fortune Brands Innovations Stock Up 0.5%

Shares of NYSE:FBIN opened at $53.24 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The business has a fifty day moving average of $57.18 and a two-hundred day moving average of $54.85. The stock has a market cap of $6.39 billion, a P/E ratio of 16.74, a PEG ratio of 3.64 and a beta of 1.33. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.50.

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

Fortune Brands Innovations Dividend Announcement

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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio is presently 31.45%.

Insider Buying and Selling at Fortune Brands Innovations

In other news, CEO Nicholas I. Fink sold 29,792 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $59.04, for a total transaction of $1,758,919.68. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.