D.A. Davidson & CO. Sells 28,796 Shares of Fortune Brands Innovations, Inc. $FBIN

D.A. Davidson & CO. reduced its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 42.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,989 shares of the company’s stock after selling 28,796 shares during the period. D.A. Davidson & CO.’s holdings in Fortune Brands Innovations were worth $2,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Stephens Inc. AR boosted its position in shares of Fortune Brands Innovations by 6.5% during the second quarter. Stephens Inc. AR now owns 4,530 shares of the company’s stock worth $233,000 after buying an additional 275 shares during the period. LRI Investments LLC boosted its position in shares of 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 period. 111 Capital acquired a new position in shares of Fortune Brands Innovations during the second quarter worth about $251,000. Ameritas Advisory Services LLC acquired a new position in shares of Fortune Brands Innovations during the second quarter worth about $37,000. Finally, Lecap Asset Management Ltd. boosted its position in shares of Fortune Brands Innovations by 295.6% during the second quarter. Lecap Asset Management Ltd. now owns 32,864 shares of the company’s stock worth $1,692,000 after buying an additional 24,557 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Nicholas I. Fink sold 1,522 shares of the firm’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 of the company’s stock, valued at $5,704,002.08. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Loop Capital reiterated a “hold” rating and issued a $61.00 price target (up from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Truist Financial reiterated a “hold” rating and issued a $60.00 price target (down from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $59.00 to $65.00 in a research note on Friday, August 1st. Barclays increased their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $67.60.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN opened at $50.76 on Monday. The stock has a 50 day moving average price of $55.24 and a 200 day moving average price of $53.88. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $88.01. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 1.97. The stock has a market capitalization of $6.09 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 4.46 and a beta of 1.33.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 31.45%.

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.