Fortune Brands Innovations, Inc. $FBIN Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 47.0% in the second quarter, Holdings Channel.com reports. The firm owned 2,571,592 shares of the company’s stock after selling 2,283,833 shares during the quarter. JPMorgan Chase & Co.’s holdings in Fortune Brands Innovations were worth $132,386,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FBIN. National Pension Service grew its holdings in shares of Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after purchasing an additional 199 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Fortune Brands Innovations by 119.1% during 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 during the period. BOK Financial Private Wealth Inc. purchased a new stake in shares of Fortune Brands Innovations during the second quarter worth about $34,000. Ameritas Advisory Services LLC acquired a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at approximately $37,000. Finally, LRI Investments LLC boosted its stake in Fortune Brands Innovations by 1,142.6% during the 2nd quarter. LRI Investments LLC now owns 758 shares of the company’s stock valued at $39,000 after acquiring an additional 697 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 4.1%

NYSE FBIN opened at $51.62 on Thursday. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 4.37 and a beta of 1.32. Fortune Brands Innovations, Inc. has a twelve month low of $44.04 and a twelve month high of $80.18. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 1.97. The firm’s 50 day moving average price is $50.52 and its two-hundred day moving average price is $53.32.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data 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). The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The firm’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. Equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

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 $0.25 dividend. 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 1.9%. Fortune Brands Innovations’s dividend payout ratio is 37.31%.

Wall Street Analyst Weigh In

Several analysts have issued reports on FBIN shares. Barclays cut their price objective on Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. 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. Royal Bank Of Canada reduced their price target on Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. UBS Group decreased their price objective on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating for the company in a report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Fortune Brands Innovations presently has an average rating of “Hold” and an average price target of $64.40.

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.