Fortune Brands Innovations, Inc. $FBIN Shares Acquired by First Trust Advisors LP

First Trust Advisors LP lifted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,165,342 shares of the company’s stock after buying an additional 97,662 shares during the quarter. First Trust Advisors LP owned approximately 0.97% of Fortune Brands Innovations worth $59,992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. National Pension Service grew its position 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 acquiring an additional 199 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Fortune Brands Innovations in the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Fortune Brands Innovations by 158.3% in the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after purchasing an additional 323 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Fortune Brands Innovations by 119.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock worth $28,000 after buying an additional 293 shares during the period. Finally, BOK Financial Private Wealth Inc. acquired a new stake in Fortune Brands Innovations during the 2nd quarter worth approximately $34,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on FBIN. Royal Bank Of Canada decreased their price target on shares of Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. UBS Group reduced their price objective on 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. Truist Financial reissued a “hold” rating and set a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Barclays cut their price target on Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Finally, Evercore ISI reiterated an “outperform” rating on shares of Fortune Brands Innovations in a research note on Friday, October 31st. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $64.40.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $50.25 on Monday. The company has a market cap of $6.04 billion, a P/E ratio of 18.75, a PEG ratio of 3.71 and a beta of 1.40. The firm has a fifty day moving average price of $50.07 and a 200 day moving average price of $53.14. The company has a current ratio of 1.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.12. Fortune Brands Innovations, Inc. has a 12 month low of $44.04 and a 12 month high of $79.96.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.01). The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. Fortune Brands Innovations had a net margin of 7.30% and a return on equity of 19.28%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

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 paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 21st. This represents a $1.00 annualized dividend and a yield of 2.0%. Fortune Brands Innovations’s payout ratio is presently 37.31%.

Fortune Brands Innovations Company 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.