Fortune Brands Innovations, Inc. $FBIN Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. decreased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,953 shares of the company’s stock after selling 285 shares during the quarter. Phoenix Financial Ltd.’s holdings in Fortune Brands Innovations were worth $203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in Fortune Brands Innovations by 113.5% in the 1st quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock valued at $373,079,000 after purchasing an additional 3,257,428 shares during the last quarter. Generation Investment Management LLP acquired a new position in Fortune Brands Innovations in the 1st quarter valued at about $98,157,000. Orbis Allan Gray Ltd acquired a new position in Fortune Brands Innovations in the 1st quarter valued at about $46,464,000. Amundi lifted its holdings in Fortune Brands Innovations by 24.1% in the first quarter. Amundi now owns 2,861,900 shares of the company’s stock valued at $169,975,000 after acquiring an additional 555,036 shares during the last quarter. Finally, First Pacific Advisors LP lifted its holdings in Fortune Brands Innovations by 220.8% in the first quarter. First Pacific Advisors LP now owns 792,517 shares of the company’s stock valued at $48,248,000 after acquiring an additional 545,499 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Buying and Selling at Fortune Brands Innovations

In related news, CEO Nicholas I. Fink sold 1,522 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 97,139 shares in the company, valued at approximately $5,704,002.08. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Fortune Brands Innovations Stock Up 1.8%

Fortune Brands Innovations stock opened at $51.72 on Friday. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $88.05. The stock’s fifty day simple moving average is $55.40 and its 200-day simple moving average is $53.83. 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 firm has a market capitalization of $6.21 billion, a P/E ratio of 16.26, a P/E/G ratio of 4.46 and a beta of 1.33.

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

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio is presently 31.45%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FBIN. UBS Group increased their price objective 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. Vertical Research started coverage on shares of Fortune Brands Innovations in a report on Tuesday. They issued a “hold” rating and a $52.00 price objective on the stock. Barclays boosted their price objective on shares of 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 raised shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $59.00 to $65.00 in a research note on Friday, August 1st. Finally, Loop Capital reissued a “hold” rating and issued a $61.00 price target (up from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Four equities research 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.com, the company currently has an average 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.