Oak Thistle LLC Takes Position in Fortune Brands Innovations, Inc. $FBIN

Oak Thistle LLC bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 13,720 shares of the company’s stock, valued at approximately $733,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FBIN. State of New Jersey Common Pension Fund D increased its position in shares of Fortune Brands Innovations by 1.1% during the first quarter. State of New Jersey Common Pension Fund D now owns 42,180 shares of the company’s stock worth $2,568,000 after acquiring an additional 455 shares in the last quarter. Brooklyn Investment Group boosted its stake in Fortune Brands Innovations by 318.7% in the 1st quarter. Brooklyn Investment Group now owns 1,231 shares of the company’s stock worth $75,000 after purchasing an additional 937 shares during the period. Northern Trust Corp increased its holdings in Fortune Brands Innovations by 3.3% during the 1st quarter. Northern Trust Corp now owns 1,338,867 shares of the company’s stock worth $81,510,000 after purchasing an additional 43,164 shares in the last quarter. Korea Investment CORP increased its holdings in Fortune Brands Innovations by 1.0% during the 1st quarter. Korea Investment CORP now owns 57,066 shares of the company’s stock worth $3,474,000 after purchasing an additional 540 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Fortune Brands Innovations in the first quarter valued at about $267,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 0.9%

NYSE FBIN opened at $51.05 on Friday. Fortune Brands Innovations, Inc. has a 12 month low of $44.04 and a 12 month high of $75.82. The company has a current ratio of 1.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.12. The stock has a 50 day moving average of $49.93 and a 200-day moving average of $53.15. The company has a market cap of $6.13 billion, a PE ratio of 19.05, a PEG ratio of 3.81 and a beta of 1.40.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.01). The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.18 billion. Fortune Brands Innovations had a return on equity of 19.28% and a net margin of 7.30%.The business’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. On average, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Friday, February 20th will be paid a $0.26 dividend. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 20th. This represents a $1.04 annualized dividend and a yield of 2.0%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 37.31%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Truist Financial reiterated a “hold” rating and set a $60.00 price objective (down from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. Royal Bank Of Canada decreased their price target on shares of Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Monday. Evercore ISI restated an “outperform” rating on shares of Fortune Brands Innovations in a report on Friday, October 31st. Finally, Vertical Research began coverage on shares of Fortune Brands Innovations in a research note on Tuesday, October 21st. They issued a “hold” rating and a $52.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.20.

Fortune Brands Innovations Profile

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.