111 Capital Makes New Investment in Fortune Brands Innovations, Inc. $FBIN

111 Capital bought a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 4,879 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors have also modified their holdings of the stock. von Borstel & Associates Inc. acquired a new position in shares of Fortune Brands Innovations during the 1st quarter valued at about $26,000. National Pension Service raised its stake in Fortune Brands Innovations by 74.5% during the first quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after purchasing an additional 199 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Fortune Brands Innovations by 119.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock valued at $28,000 after purchasing an additional 293 shares during the last quarter. CX Institutional purchased a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $29,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on FBIN. UBS Group upped their price objective on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a report on Friday, August 1st. Loop Capital reaffirmed 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. Truist Financial reiterated a “hold” rating and set a $60.00 price target (down from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $59.00 to $65.00 in a report on Friday, August 1st. Finally, Barclays upped their target price on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $75.45.

Fortune Brands Innovations Price Performance

FBIN stock opened at $51.78 on Tuesday. The business’s fifty day moving average price is $57.01 and its 200 day moving average price is $54.58. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month high of $90.50. 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 company has a market capitalization of $6.22 billion, a PE ratio of 16.28, a P/E/G ratio of 3.64 and a beta of 1.33.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.Fortune Brands Innovations’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current 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. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio is presently 31.45%.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $58.72, for a total value of $89,371.84. Following the completion of the transaction, the chief executive officer owned 97,139 shares of the company’s stock, valued at $5,704,002.08. This trade represents a 1.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

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.