Ethic Inc. Trims Stock Holdings in Fortune Brands Innovations, Inc. $FBIN

Ethic Inc. lowered its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 13.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,931 shares of the company’s stock after selling 1,436 shares during the quarter. Ethic Inc.’s holdings in Fortune Brands Innovations were worth $458,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of FBIN. Wellington Management Group LLP increased its holdings in shares of Fortune Brands Innovations by 113.5% in the first quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock valued at $373,079,000 after purchasing an additional 3,257,428 shares during the period. Generation Investment Management LLP purchased a new stake in shares of Fortune Brands Innovations in the first quarter valued at $98,157,000. Orbis Allan Gray Ltd purchased a new stake in shares of Fortune Brands Innovations in the first quarter valued at $46,464,000. Amundi lifted its position in shares of Fortune Brands Innovations by 24.1% in the first quarter. Amundi now owns 2,861,900 shares of the company’s stock valued at $169,975,000 after acquiring an additional 555,036 shares in the last quarter. Finally, First Pacific Advisors LP lifted its position in Fortune Brands Innovations by 220.8% during the first quarter. First Pacific Advisors LP now owns 792,517 shares of the company’s stock worth $48,248,000 after buying an additional 545,499 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 0.6%

FBIN opened at $51.23 on Wednesday. The stock’s fifty day moving average is $54.92 and its 200-day moving average is $53.86. The company has a market capitalization of $6.15 billion, a PE ratio of 16.11, a P/E/G ratio of 4.53 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 one year low of $47.21 and a one year high of $86.96.

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

Fortune Brands Innovations Dividend Announcement

The firm also recently declared 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. This represents a $1.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, November 21st. Fortune Brands Innovations’s payout ratio is presently 31.45%.

Insiders Place Their Bets

In related news, CEO Nicholas I. Fink sold 29,792 shares of the company’s 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 transaction, the chief executive officer directly owned 180,625 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Tuesday, October 14th. Vertical Research began coverage on Fortune Brands Innovations in a research note on Tuesday, October 21st. They set a “hold” rating and a $52.00 price objective for the company. Royal Bank Of Canada upgraded Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Loop Capital restated a “hold” rating and set a $61.00 price objective (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Finally, Truist Financial restated a “hold” rating and set a $60.00 price objective (down previously from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.60.

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.