Waters Parkerson & CO. LLC Sells 314,839 Shares of Fortune Brands Innovations, Inc. $FBIN

Waters Parkerson & CO. LLC decreased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 78.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,338 shares of the company’s stock after selling 314,839 shares during the period. Waters Parkerson & CO. LLC’s holdings in Fortune Brands Innovations were worth $4,556,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. First Pacific Advisors LP boosted its stake in shares of Fortune Brands Innovations by 152.2% during the 2nd quarter. First Pacific Advisors LP now owns 1,998,397 shares of the company’s stock worth $102,877,000 after purchasing an additional 1,205,880 shares during the period. Qube Research & Technologies Ltd bought a new stake in Fortune Brands Innovations in the second quarter worth about $87,611,000. Norges Bank bought a new stake in Fortune Brands Innovations in the second quarter worth about $78,395,000. Balyasny Asset Management L.P. purchased a new position in shares of Fortune Brands Innovations during the second quarter valued at approximately $77,441,000. Finally, First Trust Advisors LP boosted its position in shares of Fortune Brands Innovations by 9.1% during the second quarter. First Trust Advisors LP now owns 1,165,342 shares of the company’s stock valued at $59,992,000 after buying an additional 97,662 shares during the period. Institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FBIN shares. Vertical Research started coverage on Fortune Brands Innovations in a research note on Tuesday, October 21st. They issued a “hold” rating and a $52.00 target price on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $62.00 price target on shares of Fortune Brands Innovations in a report on Friday, January 9th. UBS Group reduced their price target on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Monday, December 29th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Fortune Brands Innovations in a research report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus target price of $62.33.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $61.65 on Friday. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 4.18 and a beta of 1.40. The company’s 50 day moving average is $51.40 and its 200 day moving average is $53.55. The company has a quick ratio of 0.94, a current ratio of 1.95 and a debt-to-equity ratio of 1.12. Fortune Brands Innovations, Inc. has a 52-week low of $44.04 and a 52-week high of $75.82.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, October 30th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.01). Fortune Brands Innovations had a return on equity of 19.28% and a net margin of 7.30%.The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. On average, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Friday, February 20th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.7%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 20th. Fortune Brands Innovations’s payout ratio is presently 37.31%.

About Fortune Brands Innovations

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.