Thrivent Financial for Lutherans Buys 21,802 Shares of Fortune Brands Innovations, Inc. $FBIN

Thrivent Financial for Lutherans raised its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 74.3% in the 2nd quarter, Holdings Channel reports. The firm owned 51,162 shares of the company’s stock after acquiring an additional 21,802 shares during the period. Thrivent Financial for Lutherans’ holdings in Fortune Brands Innovations were worth $2,634,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FBIN. State of Wyoming lifted its position in shares of Fortune Brands Innovations by 177.1% in the second quarter. State of Wyoming now owns 6,340 shares of the company’s stock worth $326,000 after buying an additional 4,052 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Fortune Brands Innovations in the 2nd quarter worth approximately $274,000. Geneos Wealth Management Inc. raised its holdings in shares of Fortune Brands Innovations by 30.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,108 shares of the company’s stock worth $57,000 after acquiring an additional 256 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $2,717,000. Finally, FORA Capital LLC bought a new position in shares of Fortune Brands Innovations during the 2nd quarter valued at approximately $2,053,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $50.72 on Tuesday. The stock has a 50 day moving average price of $49.98 and a 200 day moving average price of $53.18. Fortune Brands Innovations, Inc. has a 52-week low of $44.04 and a 52-week high of $75.82. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.94 and a current ratio of 1.95. The firm has a market capitalization of $6.09 billion, a P/E ratio of 18.92, a P/E/G ratio of 3.77 and a beta of 1.40.

Fortune Brands Innovations (NYSE:FBIN) last released 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 19.28% and a net margin of 7.30%.The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the business earned $1.16 EPS. The business’s revenue for the quarter 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 year.

Fortune Brands Innovations Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Friday, February 20th will be paid a $0.26 dividend. The ex-dividend date is Friday, February 20th. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.25. Fortune Brands Innovations’s payout ratio is currently 37.31%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. UBS Group reduced their price target on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Vertical Research started coverage on shares of Fortune Brands Innovations in a report on Tuesday, October 21st. They issued a “hold” rating and a $52.00 target price on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Monday, December 15th. Barclays lowered their price target on Fortune Brands Innovations from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, December 8th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Fortune Brands Innovations 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.20.

Fortune Brands Innovations Profile

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.