LRI Investments LLC Acquires 697 Shares of Fortune Brands Innovations, Inc. $FBIN

LRI Investments LLC increased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1,142.6% during the second quarter, HoldingsChannel reports. The fund owned 758 shares of the company’s stock after buying an additional 697 shares during the quarter. LRI Investments LLC’s holdings in Fortune Brands Innovations were worth $39,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FBIN. Farther Finance Advisors LLC grew its position in Fortune Brands Innovations by 57.1% during the 1st quarter. Farther Finance Advisors LLC now owns 2,956 shares of the company’s stock worth $180,000 after acquiring an additional 1,074 shares during the last quarter. CX Institutional bought a new stake in Fortune Brands Innovations during the 1st quarter worth $29,000. Fifth Third Bancorp grew its position in Fortune Brands Innovations by 15.4% during the 1st quarter. Fifth Third Bancorp now owns 2,075 shares of the company’s stock worth $126,000 after acquiring an additional 277 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Fortune Brands Innovations by 15.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,537 shares of the company’s stock worth $763,000 after acquiring an additional 1,660 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in Fortune Brands Innovations by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 14,554 shares of the company’s stock worth $886,000 after acquiring an additional 390 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Insiders Place Their Bets

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 29,792 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $59.04, for a total transaction of $1,758,919.68. Following the completion of the transaction, the chief executive officer directly owned 180,625 shares of the company’s stock, valued at approximately $10,664,100. This represents 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 accessible through this link. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on FBIN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortune Brands Innovations in a report on Saturday, September 27th. Truist Financial reaffirmed a “hold” rating and set a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. Loop Capital reaffirmed a “hold” rating and set a $61.00 target price (up from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Barclays lifted their target price on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada raised Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $59.00 to $65.00 in a report on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Fortune Brands Innovations has an average rating of “Hold” and a consensus price target of $71.90.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $48.21 on Tuesday. 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 50 day moving average price of $56.46 and a two-hundred day moving average price of $54.14. The firm has a market capitalization of $5.79 billion, a P/E ratio of 15.16, a P/E/G ratio of 3.31 and a beta of 1.33. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.50.

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

Fortune Brands Innovations Dividend Announcement

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

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.