Fortune Brands Innovations, Inc. $FBIN Shares Sold by Whittier Trust Co.

Whittier Trust Co. lowered its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,818 shares of the company’s stock after selling 280 shares during the quarter. Whittier Trust Co.’s holdings in Fortune Brands Innovations were worth $145,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FBIN. Wealth Enhancement Advisory Services LLC lifted its holdings in Fortune Brands Innovations by 15.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,537 shares of the company’s stock worth $763,000 after purchasing an additional 1,660 shares during the period. State of Alaska Department of Revenue lifted its holdings in Fortune Brands Innovations by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 14,554 shares of the company’s stock worth $886,000 after purchasing an additional 390 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Fortune Brands Innovations by 43.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,892 shares of the company’s stock worth $480,000 after purchasing an additional 2,407 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Fortune Brands Innovations by 3.8% in the first quarter. Asset Management One Co. Ltd. now owns 45,165 shares of the company’s stock worth $2,750,000 after purchasing an additional 1,670 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new stake in Fortune Brands Innovations in the first quarter worth about $506,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FBIN. Vertical Research began coverage on shares of Fortune Brands Innovations in a report on Tuesday. They issued a “hold” rating and a $52.00 price objective for the company. UBS Group upped their price target on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a report on Friday, August 1st. Barclays upped their price target on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $59.00 to $65.00 in a report on Friday, August 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average price target of $67.60.

Insider Buying and Selling at Fortune Brands Innovations

In other news, CEO Nicholas I. Fink sold 29,792 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $59.04, for a total value of $1,758,919.68. Following the transaction, the chief executive officer owned 180,625 shares in the company, valued at $10,664,100. This represents a 14.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $50.76 on Friday. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 4.54 and a beta of 1.33. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $88.01. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98. The business’s 50-day moving average is $55.24 and its 200-day moving average is $53.85.

Fortune Brands Innovations (NYSE:FBIN) last issued its 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. The company had revenue of $1.20 billion for 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%.The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be issued a $0.25 dividend. The ex-dividend date 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 is currently 31.45%.

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.