AlphaQuest LLC Invests $1.52 Million in Fortune Brands Innovations, Inc. $FBIN

AlphaQuest LLC bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the second quarter, Holdings Channel.com reports. The fund bought 29,500 shares of the company’s stock, valued at approximately $1,519,000.

Other institutional investors also recently modified their holdings of the company. von Borstel & Associates Inc. acquired a new position in shares of Fortune Brands Innovations during the first quarter worth approximately $26,000. National Pension Service raised its position in shares of 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 raised its position in shares of Fortune Brands Innovations by 119.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock worth $28,000 after purchasing an additional 293 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Fortune Brands Innovations during the second quarter worth approximately $37,000. Finally, LRI Investments LLC raised its position in shares of Fortune Brands Innovations by 1,142.6% during the second quarter. LRI Investments LLC now owns 758 shares of the company’s stock worth $39,000 after purchasing an additional 697 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 29,792 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $59.04, for a total value of $1,758,919.68. Following the completion of the transaction, the chief executive officer owned 180,625 shares in the company, valued at $10,664,100. This represents a 14.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Fortune Brands Innovations Stock Down 1.8%

Shares of NYSE:FBIN opened at $50.76 on Friday. The company has a market capitalization of $6.09 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 4.54 and a beta of 1.33. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98. The business has a fifty day moving average price of $55.24 and a two-hundred day moving average price of $53.85. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $88.01.

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

Fortune Brands Innovations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio is 31.45%.

Wall Street Analyst Weigh In

FBIN has been the topic of a number of research reports. UBS Group upped their target price on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Barclays upped their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Truist Financial reiterated a “hold” rating and set a $60.00 price target (down previously from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. Royal Bank Of Canada upgraded Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $59.00 to $65.00 in a report on Friday, August 1st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average target price of $67.60.

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.