Nordea Investment Management AB Has $6.29 Million Stock Position in Fortune Brands Innovations, Inc. $FBIN

Nordea Investment Management AB lowered its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 93.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 122,037 shares of the company’s stock after selling 1,811,391 shares during the quarter. Nordea Investment Management AB owned approximately 0.10% of Fortune Brands Innovations worth $6,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. von Borstel & Associates Inc. acquired a new position in Fortune Brands Innovations during the first quarter worth approximately $26,000. National Pension Service increased its position in Fortune Brands Innovations by 74.5% during the first quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after buying an additional 199 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Fortune Brands Innovations by 119.1% during the second 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 last quarter. Ameritas Advisory Services LLC acquired a new position in Fortune Brands Innovations during the second quarter worth approximately $37,000. Finally, LRI Investments LLC increased its position in Fortune Brands Innovations by 1,142.6% during the second quarter. LRI Investments LLC now owns 758 shares of the company’s stock worth $39,000 after buying an additional 697 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 1.6%

Shares of NYSE:FBIN opened at $50.92 on Tuesday. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month high of $89.98. The stock has a market cap of $6.11 billion, a PE ratio of 16.01, a P/E/G ratio of 3.44 and a beta of 1.33. The business has a 50 day moving average of $55.84 and a 200-day moving average of $53.86. 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 (NYSE:FBIN) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. The business had revenue of $1.20 billion during 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 period in the previous year, the company posted $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share 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. Investors of record on Friday, November 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s payout ratio is 31.45%.

Analyst Ratings Changes

FBIN has been the topic of a number of recent analyst reports. Loop Capital reissued a “hold” rating and set a $61.00 price target (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. UBS Group boosted their price target on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Truist Financial reissued a “hold” rating and set a $60.00 price target (down previously from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Weiss Ratings restated a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Tuesday, October 14th. Finally, Barclays boosted their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $71.90.

Insider Activity

In related news, CEO Nicholas I. Fink sold 1,522 shares of the business’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 in the company, valued at approximately $5,704,002.08. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

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.