DAVENPORT & Co LLC Sells 280 Shares of Fortune Brands Innovations, Inc. $FBIN

DAVENPORT & Co LLC trimmed its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,957 shares of the company’s stock after selling 280 shares during the quarter. DAVENPORT & Co LLC’s holdings in Fortune Brands Innovations were worth $204,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. von Borstel & Associates Inc. bought a new position in shares of Fortune Brands Innovations during the first quarter worth approximately $26,000. National Pension Service grew 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 buying an additional 199 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Fortune Brands Innovations by 119.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock worth $28,000 after purchasing an additional 293 shares during the period. CX Institutional bought a new position in Fortune Brands Innovations during the 1st quarter worth approximately $29,000. Finally, Ameritas Advisory Services LLC acquired a new position in Fortune Brands Innovations in the second quarter valued at $37,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Transactions at Fortune Brands Innovations

In related news, CEO Nicholas I. Fink sold 1,522 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $58.72, for a total value of $89,371.84. Following the sale, the chief executive officer owned 97,139 shares in the company, valued at approximately $5,704,002.08. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $48.21 on Tuesday. The stock has a market cap of $5.79 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 3.31 and a beta of 1.33. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 1.97. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.50. The firm’s 50-day simple moving average is $56.46 and its two-hundred day simple moving average is $54.14.

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

Fortune Brands Innovations Announces Dividend

The business 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. The ex-dividend date is Friday, November 21st. This represents a $1.00 annualized dividend and a yield of 2.1%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 31.45%.

Wall Street Analyst Weigh In

FBIN has been the subject of several research reports. UBS Group lifted their price target 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. Weiss Ratings restated a “hold (c)” rating on shares of Fortune Brands Innovations in a research note on Saturday, September 27th. Loop Capital reaffirmed a “hold” rating and issued a $61.00 price objective (up from $53.00) on shares of Fortune Brands Innovations in a 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 raised their price target for the company from $59.00 to $65.00 in a report on Friday, August 1st. Finally, 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 report on Wednesday, August 27th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and an average price target of $71.90.

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.