Fortune Brands Innovations, Inc. $FBIN Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,438 shares of the company’s stock after selling 597 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Fortune Brands Innovations were worth $486,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. von Borstel & Associates Inc. acquired a new position in Fortune Brands Innovations during the first quarter worth about $26,000. National Pension Service raised its position in 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 acquiring an additional 199 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in 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 acquiring an additional 293 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Fortune Brands Innovations by 83.6% during the first quarter. Geneos Wealth Management Inc. now owns 852 shares of the company’s stock worth $52,000 after acquiring an additional 388 shares during the last quarter. Finally, Steph & Co. acquired a new position in Fortune Brands Innovations during the second quarter worth about $46,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays lifted their target price on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. 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. Truist Financial reissued a “hold” rating and issued a $60.00 price objective (down previously from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. 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. Finally, Loop Capital reissued 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. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $71.90.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $49.97 on Friday. The company has a market capitalization of $6.00 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 3.41 and a beta of 1.33. The firm has a fifty day simple moving average of $55.93 and a 200-day simple moving average of $53.93. The company has a current ratio of 1.97, a quick ratio of 0.98 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 $90.20.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results 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. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm 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 dividend of $0.25 per share. 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 dividend payout ratio is 31.45%.

Insider Buying and Selling at Fortune Brands Innovations

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