Aberdeen Group plc Has $296,000 Stock Position in Fortune Brands Innovations, Inc. $FBIN

Aberdeen Group plc lowered its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 71.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,741 shares of the company’s stock after selling 14,090 shares during the quarter. Aberdeen Group plc’s holdings in Fortune Brands Innovations were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Fortune Brands Innovations by 113.5% in the first quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock worth $373,079,000 after buying an additional 3,257,428 shares during the period. Generation Investment Management LLP acquired a new stake in shares of Fortune Brands Innovations during the first quarter valued at approximately $98,157,000. Orbis Allan Gray Ltd purchased a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $46,464,000. Amundi boosted its stake in Fortune Brands Innovations by 24.1% in the 1st 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 stake in Fortune Brands Innovations by 220.8% in the 1st 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 hedge funds and other institutional investors.

Insider Activity

In other news, CEO Nicholas I. Fink sold 1,522 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $58.72, for a total transaction 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 represents a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Fortune Brands Innovations Stock Performance

FBIN stock opened at $49.97 on Friday. The firm has a 50 day moving average of $55.93 and a two-hundred day moving average of $53.88. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.20. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 3.44 and a beta of 1.33. 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 released its quarterly 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. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm earned $1.16 EPS. Fortune Brands Innovations’s revenue for the quarter was down 3.0% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be given 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 2.0%. Fortune Brands Innovations’s payout ratio is currently 31.45%.

Wall Street Analyst Weigh In

Several analysts have issued reports on FBIN shares. Barclays boosted their target price on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Tuesday, October 14th. Truist Financial restated a “hold” rating and set a $60.00 price objective (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. 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. Finally, Royal Bank Of Canada upgraded Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $59.00 to $65.00 in a report on Friday, August 1st. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus price target of $71.90.

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.