Marshall Wace LLP Acquires 107,786 Shares of Fortune Brands Innovations, Inc. $FBIN

Marshall Wace LLP grew its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 55.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 303,347 shares of the company’s stock after purchasing an additional 107,786 shares during the quarter. Marshall Wace LLP’s holdings in Fortune Brands Innovations were worth $15,616,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cetera Investment Advisers boosted its stake in Fortune Brands Innovations by 3.1% during the first quarter. Cetera Investment Advisers now owns 9,651 shares of the company’s stock worth $588,000 after acquiring an additional 293 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Fortune Brands Innovations by 0.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 868,045 shares of the company’s stock valued at $52,847,000 after purchasing an additional 3,212 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Fortune Brands Innovations by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 99,311 shares of the company’s stock valued at $6,046,000 after purchasing an additional 16,751 shares during the period. Citigroup Inc. boosted its position in shares of Fortune Brands Innovations by 9.5% during the 1st quarter. Citigroup Inc. now owns 156,497 shares of the company’s stock worth $9,528,000 after purchasing an additional 13,633 shares in the last quarter. Finally, Forsta AP Fonden acquired a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at about $1,315,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 1.7%

FBIN stock opened at $48.74 on Wednesday. The stock has a fifty day moving average of $49.91 and a 200-day moving average of $53.12. Fortune Brands Innovations, Inc. has a fifty-two week low of $44.04 and a fifty-two week high of $78.78. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 3.66 and a beta of 1.40. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.94 and a current ratio of 1.95.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.01). The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Fortune Brands Innovations had a net margin of 7.30% and a return on equity of 19.28%. Fortune Brands Innovations’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. As a group, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share 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 issued 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 dividend payout ratio (DPR) is 37.31%.

Analyst Ratings Changes

A number of research firms recently weighed in on FBIN. Royal Bank Of Canada dropped their price target on Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Evercore ISI reaffirmed an “outperform” rating on shares of Fortune Brands Innovations in a research report on Friday, October 31st. UBS Group cut their target price on Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Vertical Research started coverage on shares of Fortune Brands Innovations in a research note on Tuesday, October 21st. They set a “hold” rating and a $52.00 price target for the company. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Monday. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $64.20.

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.