Fortune Brands Innovations, Inc. $FBIN Shares Purchased by Hantz Financial Services Inc.

Hantz Financial Services Inc. increased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 289.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,374 shares of the company’s stock after acquiring an additional 1,021 shares during the period. Hantz Financial Services Inc.’s holdings in Fortune Brands Innovations were worth $71,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FBIN. National Pension Service grew its holdings in Fortune Brands Innovations by 74.5% in the first quarter. National Pension Service now owns 466 shares of the company’s stock valued at $28,000 after purchasing an additional 199 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Fortune Brands Innovations by 119.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock worth $28,000 after buying an additional 293 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth about $37,000. LRI Investments LLC boosted its position in shares of Fortune Brands Innovations by 1,142.6% in 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. Finally, Steph & Co. purchased a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth about $46,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on FBIN. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Tuesday, October 14th. UBS Group decreased their price objective on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating on the stock in a research report on Friday. Truist Financial reiterated a “hold” rating and issued a $60.00 price objective (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Vertical Research started coverage on Fortune Brands Innovations in a research note on Tuesday, October 21st. They set a “hold” rating and a $52.00 price objective on the stock. Finally, Royal Bank Of Canada decreased their price objective on Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.40.

Fortune Brands Innovations Trading Down 2.0%

NYSE FBIN opened at $49.60 on Wednesday. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $86.96. The company has a 50-day moving average of $53.98 and a 200-day moving average of $53.83. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98. The company has a market cap of $5.95 billion, a P/E ratio of 15.60, a P/E/G ratio of 4.37 and a beta of 1.33.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.01). Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company earned $1.16 EPS. The company’s revenue was down .5% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. As a group, equities analysts predict 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 disclosed 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 of this dividend is Friday, November 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. Fortune Brands Innovations’s dividend payout ratio is currently 37.31%.

Insider Activity at Fortune Brands Innovations

In other news, CEO Nicholas I. Fink sold 29,792 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $59.04, for a total transaction of $1,758,919.68. Following the completion of the transaction, the chief executive officer owned 180,625 shares of the company’s stock, valued at $10,664,100. This represents a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

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.