Police & Firemen s Retirement System of New Jersey Buys 1,527 Shares of Fortune Brands Innovations, Inc. $FBIN

Police & Firemen s Retirement System of New Jersey boosted its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,337 shares of the company’s stock after acquiring an additional 1,527 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Fortune Brands Innovations were worth $2,385,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its holdings in shares of Fortune Brands Innovations by 8.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 50,213 shares of the company’s stock worth $3,057,000 after purchasing an additional 4,109 shares during the period. CWM LLC increased its position in Fortune Brands Innovations by 13.3% in the first quarter. CWM LLC now owns 2,933 shares of the company’s stock worth $179,000 after buying an additional 344 shares during the last quarter. Garner Asset Management Corp bought a new stake in shares of Fortune Brands Innovations in the first quarter valued at $305,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Fortune Brands Innovations by 15.4% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 119,466 shares of the company’s stock valued at $7,273,000 after buying an additional 15,922 shares during the period. Finally, Oak Thistle LLC purchased a new position in shares of Fortune Brands Innovations during the 1st quarter valued at $543,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

FBIN stock opened at $45.29 on Wednesday. The firm has a 50 day moving average of $51.89 and a 200-day moving average of $53.51. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. Fortune Brands Innovations, Inc. has a 12 month low of $44.87 and a 12 month high of $81.93. The firm has a market capitalization of $5.44 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 4.37 and a beta of 1.32.

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

Fortune Brands Innovations Announces Dividend

The firm 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 dividend yield of 2.2%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is 37.31%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Truist Financial reissued a “hold” rating and issued a $60.00 price objective (down previously from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. Vertical Research began coverage on shares of Fortune Brands Innovations in a research note on Tuesday, October 21st. They issued a “hold” rating and a $52.00 target price for the company. Loop Capital reissued a “hold” rating and issued a $61.00 price target (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Monday. Finally, Barclays reduced their price objective 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. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $64.40.

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.