Nisa Investment Advisors LLC Trims Stock Holdings in Fortune Brands Innovations, Inc. $FBIN

Nisa Investment Advisors LLC trimmed its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 7.9% in the second quarter, Holdings Channel reports. The institutional investor owned 31,481 shares of the company’s stock after selling 2,684 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Fortune Brands Innovations were worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of FBIN. von Borstel & Associates Inc. purchased a new position in Fortune Brands Innovations in the 1st quarter valued at approximately $26,000. National Pension Service grew its position in shares of Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company’s stock valued at $28,000 after purchasing an additional 199 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Fortune Brands Innovations by 119.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock valued at $28,000 after purchasing an additional 293 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Fortune Brands Innovations during the 2nd quarter valued at $37,000. Finally, LRI Investments LLC grew its position in shares of Fortune Brands Innovations by 1,142.6% during the 2nd quarter. LRI Investments LLC now owns 758 shares of the company’s stock valued at $39,000 after purchasing an additional 697 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Down 2.1%

Shares of NYSE:FBIN opened at $48.71 on Friday. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $86.96. The firm has a fifty day moving average of $54.59 and a 200 day moving average of $53.81. The firm has a market capitalization of $5.85 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 4.37 and a beta of 1.33. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 1.97.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.01). The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.18 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 .5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. As a group, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.00 annualized dividend and a yield of 2.1%. Fortune Brands Innovations’s payout ratio is currently 31.45%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FBIN. Weiss Ratings restated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Tuesday, October 14th. Barclays boosted their price target on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Vertical Research began coverage on shares of Fortune Brands Innovations in a research report on Tuesday, October 21st. They issued a “hold” rating and a $52.00 target price for the company. Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Finally, Truist Financial reiterated a “hold” rating and issued a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $67.60.

Insiders Place Their Bets

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of the business’s stock in a transaction on Monday, August 18th. The shares were 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. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

About Fortune Brands Innovations

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.