Ameritas Investment Partners Inc. Sells 1,092 Shares of Fortune Brands Innovations, Inc. $FBIN

Ameritas Investment Partners Inc. trimmed its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,350 shares of the company’s stock after selling 1,092 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Fortune Brands Innovations were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Townsquare Capital LLC boosted its holdings in Fortune Brands Innovations by 3.3% in the first quarter. Townsquare Capital LLC now owns 6,236 shares of the company’s stock worth $380,000 after acquiring an additional 197 shares in the last quarter. National Pension Service raised its position in shares of Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after purchasing an additional 199 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in Fortune Brands Innovations by 20.8% in the 2nd quarter. Raleigh Capital Management Inc. now owns 1,229 shares of the company’s stock worth $63,000 after purchasing an additional 212 shares in the last quarter. HB Wealth Management LLC grew its position in Fortune Brands Innovations by 6.2% during the 1st quarter. HB Wealth Management LLC now owns 4,220 shares of the company’s stock valued at $257,000 after purchasing an additional 247 shares during the last quarter. Finally, Stephens Inc. AR grew its position in Fortune Brands Innovations by 6.5% during the 2nd quarter. Stephens Inc. AR now owns 4,530 shares of the company’s stock valued at $233,000 after purchasing an additional 275 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on FBIN. Evercore ISI reiterated an “outperform” rating on shares of Fortune Brands Innovations in a research note on Friday, October 31st. Royal Bank Of Canada lowered their price objective on Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Monday. Loop Capital restated a “hold” rating and issued a $61.00 price target (up previously from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Finally, Vertical Research assumed coverage on Fortune Brands Innovations in a report on Tuesday, October 21st. They set a “hold” rating and a $52.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $64.40.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $51.62 on Friday. The firm has a market capitalization of $6.20 billion, a P/E ratio of 16.23, a PEG ratio of 4.37 and a beta of 1.32. 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, Inc. has a one year low of $44.04 and a one year high of $80.18. The business has a fifty day moving average of $50.41 and a 200 day moving average of $53.31.

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

Fortune Brands Innovations Announces Dividend

The firm also recently announced 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 1.9%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s payout ratio is 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.