Vanguard Personalized Indexing Management LLC Cuts Stock Holdings in Fortune Brands Innovations, Inc. $FBIN

Vanguard Personalized Indexing Management LLC decreased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,122 shares of the company’s stock after selling 1,292 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Fortune Brands Innovations were worth $1,087,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in shares of Fortune Brands Innovations in the 1st quarter valued at $267,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Fortune Brands Innovations by 8.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 271,928 shares of the company’s stock worth $16,555,000 after buying an additional 20,206 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Fortune Brands Innovations during the 1st quarter worth approximately $1,106,000. Wealth Enhancement Advisory Services LLC increased its stake in Fortune Brands Innovations by 15.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,537 shares of the company’s stock valued at $763,000 after purchasing an additional 1,660 shares during the period. Finally, Achmea Investment Management B.V. raised its stake in Fortune Brands Innovations by 28.2% during the 1st quarter. Achmea Investment Management B.V. now owns 74,172 shares of the company’s stock valued at $4,515,000 after acquiring an additional 16,318 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FBIN. Truist Financial restated a “hold” rating and set a $60.00 price objective (down previously from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Loop Capital reissued a “hold” rating and issued a $61.00 price target (up from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Barclays raised their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Royal Bank Of Canada raised Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Finally, UBS Group upped their target price on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a report on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $71.90.

Insider Buying and Selling at Fortune Brands Innovations

In other news, CEO Nicholas I. Fink sold 1,522 shares of the stock in a transaction dated Monday, August 18th. The stock was 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 owned 97,139 shares in the company, valued at approximately $5,704,002.08. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Fortune Brands Innovations Trading Up 0.7%

FBIN stock opened at $49.97 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 3.44 and a beta of 1.33. The business has a fifty day simple moving average of $55.93 and a 200-day simple moving average of $53.88. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.20.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio is 31.45%.

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.