First Pacific Advisors LP Has $102.88 Million Stock Holdings in Fortune Brands Innovations, Inc. $FBIN

First Pacific Advisors LP raised its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 152.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,998,397 shares of the company’s stock after buying an additional 1,205,880 shares during the quarter. Fortune Brands Innovations accounts for about 1.5% of First Pacific Advisors LP’s holdings, making the stock its 22nd biggest position. First Pacific Advisors LP owned approximately 1.66% of Fortune Brands Innovations worth $102,877,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new position in Fortune Brands Innovations in the 1st quarter valued at approximately $26,000. National Pension Service increased its stake in Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company’s stock valued at $28,000 after buying an additional 199 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Fortune Brands Innovations by 119.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock valued at $28,000 after buying an additional 293 shares during the period. Ameritas Advisory Services LLC acquired a new position in Fortune Brands Innovations in the 2nd quarter valued at approximately $37,000. Finally, LRI Investments LLC increased its stake in Fortune Brands Innovations by 1,142.6% in the 2nd quarter. LRI Investments LLC now owns 758 shares of the company’s stock valued at $39,000 after buying an additional 697 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

NYSE FBIN opened at $51.23 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. The company has a fifty day simple moving average of $54.92 and a 200 day simple moving average of $53.86. The company has a market cap of $6.15 billion, a P/E ratio of 16.11, a P/E/G ratio of 4.53 and a beta of 1.33. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $86.96.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data 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 business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. Fortune Brands Innovations’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

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

Insider Activity

In related news, CEO Nicholas I. Fink sold 1,522 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $58.72, for a total transaction of $89,371.84. Following the completion of the sale, the chief executive officer directly owned 97,139 shares of the company’s stock, valued at approximately $5,704,002.08. This represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on FBIN. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Tuesday, October 14th. UBS Group increased their price target on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $59.00 to $65.00 in a research note on Friday, August 1st. Barclays increased their price target on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Vertical Research assumed coverage on shares of Fortune Brands Innovations in a research note on Tuesday, October 21st. They set a “hold” rating and a $52.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and seven 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 price target 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.