Apollon Wealth Management LLC Trims Stock Holdings in Fortune Brands Innovations, Inc. $FBIN

Apollon Wealth Management LLC trimmed its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 35.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,010 shares of the company’s stock after selling 2,195 shares during the quarter. Apollon Wealth Management LLC’s holdings in Fortune Brands Innovations were worth $206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. von Borstel & Associates Inc. purchased a new stake in shares of Fortune Brands Innovations in the first quarter worth approximately $26,000. National Pension Service grew its stake in Fortune Brands Innovations by 74.5% in the first quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after purchasing an additional 199 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Fortune Brands Innovations by 119.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock worth $28,000 after purchasing an additional 293 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Fortune Brands Innovations in the second quarter worth approximately $37,000. Finally, Geneos Wealth Management Inc. grew its stake in Fortune Brands Innovations by 83.6% in the first quarter. Geneos Wealth Management Inc. now owns 852 shares of the company’s stock worth $52,000 after purchasing an additional 388 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Up 0.7%

Shares of NYSE FBIN opened at $49.97 on Monday. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $6.00 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 3.44 and a beta of 1.33. The stock’s fifty day simple moving average is $55.93 and its two-hundred day simple moving average is $53.87. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month high of $90.20.

Fortune Brands Innovations (NYSE:FBIN) last announced its 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 for 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 business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, 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. 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 dividend payout ratio (DPR) is presently 31.45%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Fortune Brands Innovations

In other news, CEO Nicholas I. Fink sold 1,522 shares of the firm’s stock in a transaction 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 owned 97,139 shares of the company’s stock, valued at $5,704,002.08. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

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.