Nisa Investment Advisors LLC Sells 2,684 Shares of Fortune Brands Innovations, Inc. $FBIN

Nisa Investment Advisors LLC decreased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 7.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,481 shares of the company’s stock after selling 2,684 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Fortune Brands Innovations were worth $1,621,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new position in Fortune Brands Innovations in the 1st quarter valued at about $26,000. National Pension Service lifted its position in 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 acquiring an additional 199 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Fortune Brands Innovations by 119.1% in 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 in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $37,000. Finally, LRI Investments LLC lifted its position in shares of Fortune Brands Innovations by 1,142.6% during the 2nd quarter. LRI Investments LLC now owns 758 shares of the company’s stock worth $39,000 after buying an additional 697 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 2.1%

Shares of FBIN stock opened at $48.71 on Friday. The company has a 50 day moving average of $54.59 and a 200-day moving average of $53.81. 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 12-month low of $47.21 and a 12-month high of $86.96. The firm has a market cap of $5.85 billion, a P/E ratio of 15.32, a PEG ratio of 4.37 and a beta of 1.33.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.01). Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the business earned $1.16 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. Sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 21st. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 31.45%.

Insider Activity

In other news, CEO Nicholas I. Fink sold 1,522 shares of the firm’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 completion of the sale, the chief executive officer owned 97,139 shares in the company, valued at $5,704,002.08. This trade represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FBIN has been the topic of several recent analyst reports. UBS Group lifted their target price on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Loop Capital reissued a “hold” rating and set a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and lifted their target price 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 set a “hold” rating and a $52.00 target price on the stock. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Tuesday, October 14th. Four 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, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $67.60.

Fortune Brands Innovations 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.