Fortune Brands Innovations, Inc. $FBIN Shares Sold by Amundi

Amundi lowered its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 12.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,498,933 shares of the company’s stock after selling 362,967 shares during the period. Amundi owned about 2.08% of Fortune Brands Innovations worth $128,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in FBIN. Cetera Investment Advisers lifted its position in shares of Fortune Brands Innovations by 3.1% during the 1st quarter. Cetera Investment Advisers now owns 9,651 shares of the company’s stock worth $588,000 after purchasing an additional 293 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in Fortune Brands Innovations in the first quarter valued at $293,000. Charles Schwab Investment Management Inc. raised its stake in Fortune Brands Innovations by 0.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 868,045 shares of the company’s stock valued at $52,847,000 after buying an additional 3,212 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Fortune Brands Innovations by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 99,311 shares of the company’s stock worth $6,046,000 after purchasing an additional 16,751 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Fortune Brands Innovations by 9.5% in the 1st quarter. Citigroup Inc. now owns 156,497 shares of the company’s stock valued at $9,528,000 after buying an additional 13,633 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

FBIN has been the topic of several research reports. Vertical Research assumed coverage on shares of Fortune Brands Innovations in a research report on Tuesday, October 21st. They set a “hold” rating and a $52.00 price objective on the stock. Evercore ISI restated an “outperform” rating on shares of Fortune Brands Innovations in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Monday, December 1st. Truist Financial restated a “hold” rating and issued a $60.00 price target (down from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Finally, Barclays reduced their target price on Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $64.40.

Fortune Brands Innovations Trading Down 0.9%

Fortune Brands Innovations stock opened at $50.25 on Monday. The stock has a 50-day moving average price of $50.07 and a 200 day moving average price of $53.14. Fortune Brands Innovations, Inc. has a 52 week low of $44.04 and a 52 week high of $79.96. The stock has a market cap of $6.04 billion, a PE ratio of 18.75, a P/E/G ratio of 3.71 and a beta of 1.40. 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 (NYSE:FBIN) last released its 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). The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Fortune Brands Innovations had a net margin of 7.30% and a return on equity of 19.28%. Fortune Brands Innovations’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. Equities research 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 declared 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 dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio is currently 37.31%.

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.