BI Asset Management Fondsmaeglerselskab A S Has $213,000 Position in Fortune Brands Innovations, Inc. $FBIN

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 34.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,497 shares of the company’s stock after selling 1,833 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Fortune Brands Innovations were worth $213,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FBIN. Dimensional Fund Advisors LP raised its holdings in shares of Fortune Brands Innovations by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,924,181 shares of the company’s stock valued at $131,481,000 after purchasing an additional 40,138 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Fortune Brands Innovations by 179.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,336 shares of the company’s stock worth $570,000 after buying an additional 5,351 shares during the last quarter. Stifel Financial Corp raised its holdings in Fortune Brands Innovations by 23.6% during the fourth quarter. Stifel Financial Corp now owns 10,256 shares of the company’s stock valued at $701,000 after buying an additional 1,960 shares in the last quarter. Pinebridge Investments L.P. lifted its position in shares of Fortune Brands Innovations by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 56,366 shares of the company’s stock worth $3,851,000 after buying an additional 16,871 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Fortune Brands Innovations by 19.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 137,917 shares of the company’s stock worth $9,425,000 after buying an additional 22,443 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Trading Up 7.0%

Shares of FBIN stock opened at $61.5050 on Friday. The firm has a market capitalization of $7.38 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 4.22 and a beta of 1.32. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $90.54. The firm’s fifty day simple moving average is $54.64 and its 200 day simple moving average is $56.44. The company has a current ratio of 1.97, a quick ratio of 0.98 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.00 annualized dividend and a yield of 1.6%. Fortune Brands Innovations’s dividend payout ratio is 31.45%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FBIN. Loop Capital reissued a “hold” rating and issued a $61.00 price objective (up from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Barclays lifted their price target on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $59.00 to $65.00 in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Fortune Brands Innovations from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Fortune Brands Innovations presently has an average rating of “Moderate Buy” and a consensus price target of $75.91.

Insider Activity at Fortune Brands Innovations

In other news, CEO Nicholas I. Fink sold 1,522 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $58.72, for a total transaction of $89,371.84. Following the sale, the chief executive officer owned 97,139 shares of the company’s stock, valued at approximately $5,704,002.08. This trade represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Fortune Brands Innovations Company 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.