Teacher Retirement System of Texas Increases Stock Position in Fortune Brands Innovations, Inc. $FBIN

Teacher Retirement System of Texas raised its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 63.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,593 shares of the company’s stock after buying an additional 11,433 shares during the period. Teacher Retirement System of Texas’ holdings in Fortune Brands Innovations were worth $1,523,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FBIN. Wellington Management Group LLP boosted its position in Fortune Brands Innovations by 113.5% during the 1st quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock valued at $373,079,000 after buying 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 1st quarter worth about $98,157,000. Orbis Allan Gray Ltd purchased a new stake in shares of Fortune Brands Innovations in the 1st quarter worth about $46,464,000. Amundi lifted its position in shares of Fortune Brands Innovations by 24.1% in the 1st quarter. Amundi now owns 2,861,900 shares of the company’s stock worth $169,975,000 after purchasing an additional 555,036 shares during the period. Finally, First Pacific Advisors LP lifted its position in shares of Fortune Brands Innovations by 220.8% in the 1st quarter. First Pacific Advisors LP now owns 792,517 shares of the company’s stock worth $48,248,000 after purchasing an additional 545,499 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on FBIN. Evercore ISI reaffirmed an “outperform” rating on shares of Fortune Brands Innovations in a research report on Friday. Loop Capital reaffirmed a “hold” rating and issued a $61.00 target price (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. UBS Group dropped their target price on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating for the company in a research report on Friday. Vertical Research assumed coverage on shares of Fortune Brands Innovations in a report on Tuesday, October 21st. They set a “hold” rating and a $52.00 target price on the stock. Finally, Royal Bank Of Canada dropped their target price on shares of Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations presently has an average rating of “Hold” and an average price target of $64.40.

Fortune Brands Innovations Trading Down 2.0%

Shares of NYSE FBIN opened at $49.60 on Wednesday. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $86.96. The stock has a market cap of $5.95 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 4.37 and a beta of 1.33. The firm has a 50-day moving average of $53.98 and a 200 day moving average of $53.83. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.01). Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the business earned $1.16 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. As a group, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 37.31%.

Insiders Place Their Bets

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $58.72, for a total transaction of $89,371.84. Following the completion of the sale, the chief executive officer directly owned 97,139 shares in the company, valued at approximately $5,704,002.08. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.