14,431 Shares in Fortune Brands Innovations, Inc. $FBIN Bought by Scientech Research LLC

Scientech Research LLC purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 1st quarter, Holdings Channel.com reports. The firm purchased 14,431 shares of the company’s stock, valued at approximately $879,000.

Other hedge funds also recently modified their holdings of the company. von Borstel & Associates Inc. bought a new position in shares of Fortune Brands Innovations in the 1st quarter valued at about $26,000. National Pension Service lifted its position 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 acquiring an additional 199 shares during the last quarter. CX Institutional acquired a new stake in shares of Fortune Brands Innovations in the first quarter valued at approximately $29,000. Quarry LP acquired a new stake in shares of Fortune Brands Innovations in the first quarter valued at approximately $60,000. Finally, Alpine Bank Wealth Management acquired a new position in Fortune Brands Innovations during the first quarter valued at approximately $62,000. Institutional investors own 87.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FBIN shares. Loop Capital reiterated a “hold” rating and set a $61.00 price target (up from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. UBS Group upped their price target on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Barclays increased their price objective on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Wall Street Zen raised shares of Fortune Brands Innovations from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $60.00 price target (down previously from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.45.

Fortune Brands Innovations Stock Up 3.0%

Shares of NYSE:FBIN opened at $60.80 on Monday. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54. The firm has a fifty day moving average price of $56.29 and a two-hundred day moving average price of $55.70. The company has a market cap of $7.30 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 4.17 and a beta of 1.32. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. Fortune Brands Innovations’s payout ratio is currently 31.45%.

Insiders Place Their Bets

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $58.72, for a total value of $89,371.84. Following the sale, the chief executive officer owned 97,139 shares in the company, valued at approximately $5,704,002.08. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

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.