Ameritas Advisory Services LLC Acquires Shares of 718 Fortune Brands Innovations, Inc. $FBIN

Ameritas Advisory Services LLC acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 718 shares of the company’s stock, valued at approximately $37,000.

A number of other institutional investors also recently bought and sold shares of FBIN. Townsquare Capital LLC boosted its holdings in shares of Fortune Brands Innovations by 3.3% in the first 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 boosted its holdings in shares of 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 acquiring an additional 199 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Fortune Brands Innovations by 20.8% in the second quarter. Raleigh Capital Management Inc. now owns 1,229 shares of the company’s stock valued at $63,000 after acquiring an additional 212 shares in the last quarter. HB Wealth Management LLC boosted its holdings in shares of Fortune Brands Innovations by 6.2% in the first quarter. HB Wealth Management LLC now owns 4,220 shares of the company’s stock valued at $257,000 after acquiring an additional 247 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Fortune Brands Innovations by 15.4% in the first quarter. Fifth Third Bancorp now owns 2,075 shares of the company’s stock valued at $126,000 after acquiring an additional 277 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortune Brands Innovations

In other news, CEO Nicholas I. Fink sold 29,792 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were 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 owned 180,625 shares of the company’s stock, valued at $10,664,100. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $49.83 on Wednesday. The firm has a 50 day simple moving average of $56.32 and a 200-day simple moving average of $54.11. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98. The firm has a market cap of $5.98 billion, a PE ratio of 15.67, a P/E/G ratio of 3.31 and a beta of 1.33. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.50.

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 analysts’ consensus estimates 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 net margin of 8.75% and a return on equity of 19.85%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, November 21st. Fortune Brands Innovations’s payout ratio is currently 31.45%.

Analysts Set New Price Targets

FBIN has been the topic of several analyst reports. UBS Group lifted their target price 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. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $59.00 to $65.00 in a report on Friday, August 1st. Loop Capital reaffirmed a “hold” rating and issued a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Tuesday. Finally, Barclays boosted their price objective on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $71.90.

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.