Forum Financial Management LP Boosts Position in Fortune Brands Innovations, Inc. $FBIN

Forum Financial Management LP raised its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 41.4% during the second quarter, HoldingsChannel reports. The firm owned 4,672 shares of the company’s stock after purchasing an additional 1,369 shares during the period. Forum Financial Management LP’s holdings in Fortune Brands Innovations were worth $241,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in Fortune Brands Innovations by 113.5% during 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 period. JPMorgan Chase & Co. grew its position in shares of Fortune Brands Innovations by 9.2% in the 1st quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company’s stock worth $295,598,000 after buying an additional 409,466 shares during the last quarter. Amundi grew its position in shares of Fortune Brands Innovations by 24.1% in the 1st quarter. Amundi now owns 2,861,900 shares of the company’s stock worth $169,975,000 after buying an additional 555,036 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Fortune Brands Innovations by 22.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,351,110 shares of the company’s stock worth $143,130,000 after buying an additional 426,929 shares during the last quarter. Finally, Fiduciary Management Inc. WI grew its position in shares of Fortune Brands Innovations by 12.8% in the 1st quarter. Fiduciary Management Inc. WI now owns 2,291,860 shares of the company’s stock worth $139,528,000 after buying an additional 260,218 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN opened at $51.61 on Tuesday. 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, Inc. has a 12 month low of $47.21 and a 12 month high of $87.55. The company has a 50 day simple moving average of $55.10 and a two-hundred day simple moving average of $53.86. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 4.46 and a beta of 1.33.

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

Fortune Brands Innovations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date 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 transaction of $89,371.84. Following the completion of the sale, the chief executive officer directly owned 97,139 shares in the company, valued at approximately $5,704,002.08. The trade was a 1.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

FBIN has been the topic of a number of analyst reports. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Vertical Research initiated coverage on shares of Fortune Brands Innovations in a research report on Tuesday, October 21st. They issued a “hold” rating and a $52.00 price objective on the stock. Barclays lifted their price objective on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Truist Financial reiterated a “hold” rating and issued a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Finally, Loop Capital reiterated a “hold” rating and issued a $61.00 target price (up from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $67.60.

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.