Valley National Advisers Inc. Has $56,000 Holdings in Fortune Brands Innovations, Inc. $FBIN

Valley National Advisers Inc. trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 42.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,099 shares of the company’s stock after selling 796 shares during the period. Valley National Advisers Inc.’s holdings in Fortune Brands Innovations were worth $56,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Townsquare Capital LLC boosted its position in shares of Fortune Brands Innovations by 3.3% during the 1st quarter. Townsquare Capital LLC now owns 6,236 shares of the company’s stock worth $380,000 after acquiring an additional 197 shares in the last quarter. National Pension Service boosted its holdings in shares of 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 purchasing an additional 199 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Fortune Brands Innovations by 20.8% in the 2nd quarter. Raleigh Capital Management Inc. now owns 1,229 shares of the company’s stock valued at $63,000 after purchasing an additional 212 shares during the last quarter. Baker Ellis Asset Management LLC raised its holdings in shares of Fortune Brands Innovations by 0.4% during the 1st quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company’s stock worth $3,750,000 after buying an additional 219 shares in the last quarter. Finally, HB Wealth Management LLC lifted its position in shares of Fortune Brands Innovations by 6.2% during the 1st quarter. HB Wealth Management LLC now owns 4,220 shares of the company’s stock worth $257,000 after buying an additional 247 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Nicholas I. Fink sold 29,792 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $59.04, for a total value of $1,758,919.68. Following the transaction, the chief executive officer owned 180,625 shares in the company, valued at approximately $10,664,100. The trade was a 14.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on FBIN. Truist Financial restated a “hold” rating and issued a $60.00 price target (down from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $59.00 to $65.00 in a report on Friday, August 1st. UBS Group increased their price target on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Barclays boosted their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Loop Capital reaffirmed a “hold” rating and issued a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $75.45.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $51.78 on Tuesday. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 3.64 and a beta of 1.33. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $90.50. The stock has a fifty day simple moving average of $57.01 and a 200 day simple moving average of $54.58.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, beating 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 firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company posted $1.16 EPS. The business’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. 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 declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 21st. This represents a $1.00 annualized dividend and a yield of 1.9%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 31.45%.

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.