Fortune Brands Innovations, Inc. $FBIN Shares Sold by Pflug Koory LLC

Pflug Koory LLC trimmed its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,557 shares of the company’s stock after selling 200 shares during the period. Pflug Koory LLC’s holdings in Fortune Brands Innovations were worth $492,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. von Borstel & Associates Inc. acquired a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at approximately $26,000. National Pension Service lifted its position in shares of 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 during the period. CX Institutional acquired a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB lifted 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 acquiring an additional 293 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter valued at approximately $37,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FBIN. Truist Financial reiterated a “hold” rating and set a $60.00 price target (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. 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. Weiss Ratings reissued a “hold (c)” rating on shares of Fortune Brands Innovations in a research note on Saturday, September 27th. UBS Group raised their price objective 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. Finally, Royal Bank Of Canada raised shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $59.00 to $65.00 in a research note on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $75.45.

Fortune Brands Innovations Stock Down 0.7%

FBIN stock opened at $52.86 on Friday. The stock has a market capitalization of $6.35 billion, a P/E ratio of 16.62, a PEG ratio of 3.65 and a beta of 1.33. 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, Inc. has a one year low of $47.21 and a one year high of $90.50. The company has a 50 day moving average price of $57.11 and a two-hundred day moving average price of $54.78.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

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

Insider Buying and Selling

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $58.72, for a total value 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. The trade was a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.