DekaBank Deutsche Girozentrale Sells 657 Shares of Fortune Brands Innovations, Inc. $FBIN

DekaBank Deutsche Girozentrale lessened its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,696 shares of the company’s stock after selling 657 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Fortune Brands Innovations were worth $3,055,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. 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 increased 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 purchasing an additional 199 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake 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. Ameritas Advisory Services LLC acquired a new stake in Fortune Brands Innovations during the second quarter worth approximately $37,000. Finally, LRI Investments LLC grew its position in Fortune Brands Innovations by 1,142.6% during the second quarter. LRI Investments LLC now owns 758 shares of the company’s stock worth $39,000 after buying an additional 697 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada raised Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Barclays increased their price target on 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 increased their price target on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Loop Capital reissued a “hold” rating and set a $61.00 price target (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and an average target price of $67.60.

Insiders Place Their Bets

In related news, CEO Nicholas I. Fink sold 1,522 shares of the business’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 sale, the chief executive officer owned 97,139 shares in the company, valued at $5,704,002.08. The trade was a 1.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Fortune Brands Innovations Trading Down 1.8%

Shares of FBIN stock opened at $50.76 on Friday. 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 $88.01. The company has a market cap of $6.09 billion, a PE ratio of 15.96, a P/E/G ratio of 4.46 and a beta of 1.33. The stock’s fifty day moving average price is $55.24 and its two-hundred day moving average price is $53.88.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $1.20 billion for 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 quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Equities analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

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