DekaBank Deutsche Girozentrale Has $3.06 Million Stock Holdings in Fortune Brands Innovations, Inc. $FBIN

DekaBank Deutsche Girozentrale reduced its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,696 shares of the company’s stock after selling 657 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Fortune Brands Innovations were worth $3,055,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new position in Fortune Brands Innovations during the 1st quarter worth approximately $26,000. National Pension Service raised its stake in Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after buying an additional 199 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Fortune Brands Innovations by 119.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock worth $28,000 after buying an additional 293 shares during the period. Ameritas Advisory Services LLC acquired a new position in Fortune Brands Innovations during the 2nd quarter worth approximately $37,000. Finally, LRI Investments LLC raised its stake in Fortune Brands Innovations by 1,142.6% during the 2nd 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. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $50.76 on Friday. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 4.46 and a beta of 1.33. The business’s 50 day simple moving average is $55.24 and its 200 day simple moving average is $53.88. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $88.01. 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 posted its earnings results 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 firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business posted $1.16 earnings per share. The business’s quarterly 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. Sell-side 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors 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 is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is 31.45%.

Insider Activity

In related news, CEO Nicholas I. Fink sold 1,522 shares of the 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 sale, the chief executive officer owned 97,139 shares in the company, valued at approximately $5,704,002.08. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. UBS Group boosted their price objective on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Loop Capital reaffirmed a “hold” rating and issued a $61.00 target price (up from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Tuesday, October 14th. Royal Bank Of Canada raised Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $59.00 to $65.00 in a report on Friday, August 1st. Finally, Vertical Research started coverage on Fortune Brands Innovations in a report on Tuesday. They issued a “hold” rating and a $52.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus target price of $67.60.

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.