Vanguard Personalized Indexing Management LLC Decreases Stake in Fortune Brands Innovations, Inc. $FBIN

Vanguard Personalized Indexing Management LLC lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 5.8% in the second quarter, Holdings Channel.com reports. The firm owned 21,122 shares of the company’s stock after selling 1,292 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Fortune Brands Innovations were worth $1,087,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Fortune Brands Innovations by 113.5% during the first quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock worth $373,079,000 after purchasing an additional 3,257,428 shares during the last quarter. Generation Investment Management LLP acquired a new stake in Fortune Brands Innovations during the first quarter valued at approximately $98,157,000. Orbis Allan Gray Ltd bought a new position in Fortune Brands Innovations during the 1st quarter worth approximately $46,464,000. Amundi grew its position in shares of 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 acquiring an additional 555,036 shares in the last quarter. Finally, First Pacific Advisors LP increased its holdings in shares of Fortune Brands Innovations by 220.8% in the 1st quarter. First Pacific Advisors LP now owns 792,517 shares of the company’s stock valued at $48,248,000 after acquiring an additional 545,499 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FBIN. Weiss Ratings restated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Tuesday, October 14th. Loop Capital reiterated a “hold” rating and set a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Barclays raised their price target on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Truist Financial reaffirmed a “hold” rating and issued a $60.00 price target (down from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. Finally, Royal Bank Of Canada raised shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $59.00 to $65.00 in a research report on Friday, August 1st. Four equities research 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $71.90.

Fortune Brands Innovations Price Performance

NYSE FBIN opened at $49.97 on Friday. The company has a 50-day moving average price of $55.93 and a two-hundred 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 $90.20. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 3.44 and a beta of 1.33. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $1.16 earnings per share. The business’s revenue 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. Analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be issued a dividend of $0.25 per share. 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 31.45%.

Insider Activity at Fortune Brands Innovations

In related news, CEO Nicholas I. Fink sold 29,792 shares of Fortune Brands Innovations stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $59.04, for a total transaction of $1,758,919.68. Following the sale, the chief executive officer directly owned 180,625 shares in the company, valued at $10,664,100. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

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.