Asset Planning Inc Has $51,000 Stock Holdings in Fortune Brands Innovations, Inc. $FBIN

Asset Planning Inc decreased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 20.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the company’s stock after selling 259 shares during the quarter. Asset Planning Inc’s holdings in Fortune Brands Innovations were worth $51,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 111 Capital acquired a new stake in shares of Fortune Brands Innovations during the second quarter worth $251,000. Ameritas Advisory Services LLC acquired a new stake in shares of Fortune Brands Innovations during the second quarter worth $37,000. Lecap Asset Management Ltd. lifted its holdings in shares of Fortune Brands Innovations by 295.6% during the second quarter. Lecap Asset Management Ltd. now owns 32,864 shares of the company’s stock worth $1,692,000 after buying an additional 24,557 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Fortune Brands Innovations by 0.7% during the second quarter. Truist Financial Corp now owns 167,977 shares of the company’s stock worth $8,647,000 after buying an additional 1,170 shares in the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Fortune Brands Innovations by 20.8% during the second quarter. Raleigh Capital Management Inc. now owns 1,229 shares of the company’s stock worth $63,000 after buying an additional 212 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 29,792 shares of Fortune Brands Innovations stock in a transaction dated 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 transaction, the chief executive officer owned 180,625 shares in the company, valued at $10,664,100. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Fortune Brands Innovations Stock Down 4.0%

FBIN stock opened at $48.20 on Friday. The company has a market cap of $5.79 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 3.32 and a beta of 1.33. The business has a 50-day simple moving average of $56.63 and a 200 day simple moving average of $54.29. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.50. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly 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 business 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%.Fortune Brands Innovations’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders 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 yield of 2.1%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s payout ratio is currently 31.45%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FBIN shares. Barclays lifted their target price on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Royal Bank Of Canada raised Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $59.00 to $65.00 in a report on Friday, August 1st. UBS Group lifted their target price on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortune Brands Innovations in a research note on Saturday, September 27th. 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 note on Wednesday, August 27th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $71.90.

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.