Fortune Brands Innovations, Inc. $FBIN Shares Acquired by LRI Investments LLC

LRI Investments LLC boosted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1,142.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 758 shares of the company’s stock after acquiring an additional 697 shares during the period. LRI Investments LLC’s holdings in Fortune Brands Innovations were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of FBIN. Wellington Management Group LLP lifted its holdings in shares of 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 worth $373,079,000 after acquiring an additional 3,257,428 shares during the period. Generation Investment Management LLP acquired a new stake in Fortune Brands Innovations in the first quarter valued at approximately $98,157,000. Orbis Allan Gray Ltd acquired a new stake in shares of Fortune Brands Innovations during the first quarter worth approximately $46,464,000. Amundi boosted its holdings in Fortune Brands Innovations by 24.1% in the first quarter. Amundi now owns 2,861,900 shares of the company’s stock worth $169,975,000 after purchasing an additional 555,036 shares during the period. Finally, First Pacific Advisors LP boosted its holdings in Fortune Brands Innovations by 220.8% in the first quarter. First Pacific Advisors LP now owns 792,517 shares of the company’s stock worth $48,248,000 after purchasing an additional 545,499 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FBIN has been the topic of a number of recent analyst reports. Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $59.00 to $65.00 in a research note on Friday, August 1st. UBS Group lifted their target price on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Loop Capital restated a “hold” rating and issued a $61.00 target price (up from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Barclays upped their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Fortune Brands Innovations in a research report on Saturday, September 27th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.90.

Fortune Brands Innovations Stock Up 0.0%

NYSE:FBIN opened at $48.21 on Tuesday. 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 company has a market cap of $5.79 billion, a PE ratio of 15.16, a PEG ratio of 3.31 and a beta of 1.33. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.50. The stock has a 50-day simple moving average of $56.46 and a 200 day simple moving average of $54.14.

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

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 21st. 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 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 directly owned 97,139 shares of the company’s stock, valued at $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 SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

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.