Catalyst Capital Advisors LLC Buys 6,000 Shares of Fortune Brands Innovations, Inc. $FBIN

Catalyst Capital Advisors LLC raised its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 70.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,500 shares of the company’s stock after acquiring an additional 6,000 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Fortune Brands Innovations were worth $746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. von Borstel & Associates Inc. bought a new stake in Fortune Brands Innovations during the 1st quarter valued at $26,000. National Pension Service boosted its position in Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company’s stock valued at $28,000 after acquiring an additional 199 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Fortune Brands Innovations by 119.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock valued at $28,000 after purchasing an additional 293 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Fortune Brands Innovations during the 2nd quarter valued at $37,000. Finally, LRI Investments LLC lifted its holdings in shares of Fortune Brands Innovations by 1,142.6% during the 2nd quarter. LRI Investments LLC now owns 758 shares of the company’s stock valued at $39,000 after purchasing an additional 697 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Vertical Research assumed coverage on Fortune Brands Innovations in a report on Tuesday. They set a “hold” rating and a $52.00 price objective for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Tuesday, October 14th. Barclays increased their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Royal Bank Of Canada upgraded Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $59.00 to $65.00 in a report on Friday, August 1st. Finally, Truist Financial restated a “hold” rating and issued a $60.00 target price (down previously from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $67.60.

Insider Buying and Selling 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 transaction of $1,758,919.68. Following the completion of the transaction, the chief executive officer owned 180,625 shares in the company, valued at approximately $10,664,100. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $51.72 on Friday. The stock has a 50-day simple moving average of $55.40 and a two-hundred day simple moving average of $53.83. The firm has a market capitalization of $6.21 billion, a P/E ratio of 16.26, a PEG ratio of 4.46 and a beta of 1.33. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $88.05. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 1.97.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.00 earnings per share 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 analyst estimates of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business 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 dividend of $0.25 per share. The ex-dividend date is Friday, November 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 31.45%.

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.