Fortune Brands Innovations, Inc. $FBIN Shares Acquired by Managed Asset Portfolios LLC

Managed Asset Portfolios LLC boosted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 28.3% in the second quarter, HoldingsChannel.com reports. The firm owned 186,350 shares of the company’s stock after acquiring an additional 41,136 shares during the period. Managed Asset Portfolios LLC’s holdings in Fortune Brands Innovations were worth $9,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. National Pension Service raised its holdings 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 grew its position 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 buying an additional 293 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Fortune Brands Innovations during the 2nd quarter valued at about $34,000. Ameritas Advisory Services LLC acquired a new stake in Fortune Brands Innovations during the second quarter worth about $37,000. Finally, LRI Investments LLC lifted its holdings in Fortune Brands Innovations by 1,142.6% in the second quarter. LRI Investments LLC now owns 758 shares of the company’s stock worth $39,000 after acquiring an additional 697 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Analysts Set New Price Targets

FBIN has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Monday. Royal Bank Of Canada reduced their price objective on Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Vertical Research assumed coverage on Fortune Brands Innovations in a research note on Tuesday, October 21st. They set a “hold” rating and a $52.00 price objective for the company. Truist Financial reaffirmed a “hold” rating and issued a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Finally, UBS Group reduced their price target on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating for the company in a report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.40.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $45.29 on Wednesday. Fortune Brands Innovations, Inc. has a 12-month low of $44.87 and a 12-month high of $81.93. 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 firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 4.37 and a beta of 1.32. The business has a 50 day simple moving average of $51.89 and a 200 day simple moving average of $53.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.01). Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the firm posted $1.16 EPS. The company’s revenue was down .5% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. On average, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The business 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 $0.25 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.00 annualized dividend and a yield of 2.2%. Fortune Brands Innovations’s dividend payout ratio is presently 37.31%.

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.