Allworth Financial LP Acquires 1,401 Shares of Fortune Brands Innovations, Inc. $FBIN

Allworth Financial LP grew its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 30.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,037 shares of the company’s stock after purchasing an additional 1,401 shares during the period. Allworth Financial LP’s holdings in Fortune Brands Innovations were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FBIN. National Pension Service boosted its stake in Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company’s stock valued at $28,000 after buying an additional 199 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake 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 in the last quarter. BOK Financial Private Wealth Inc. bought a new position in shares of Fortune Brands Innovations during the second quarter valued at $34,000. Ameritas Advisory Services LLC bought a new position in shares of Fortune Brands Innovations during the second quarter valued at $37,000. Finally, LRI Investments LLC boosted its stake in shares of Fortune Brands Innovations by 1,142.6% in the 2nd quarter. LRI Investments LLC now owns 758 shares of the company’s stock valued at $39,000 after purchasing an additional 697 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Vertical Research started coverage on shares of Fortune Brands Innovations in a research report on Tuesday, October 21st. They set a “hold” rating and a $52.00 target price for the company. Loop Capital restated a “hold” rating and issued a $61.00 price target (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. UBS Group decreased their price objective on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Barclays cut their target price on shares of Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Tuesday, November 11th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $64.40.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $46.35 on Tuesday. Fortune Brands Innovations, Inc. has a 1 year low of $46.24 and a 1 year high of $81.93. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. The firm’s 50 day moving average is $52.17 and its 200-day moving average is $53.57. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 4.37 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.01). The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.18 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. Sell-side analysts forecast 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. Investors 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 yield of 2.2%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 37.31%.

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.