Y Intercept Hong Kong Ltd Trims Holdings in Fortune Brands Innovations, Inc. $FBIN

Y Intercept Hong Kong Ltd reduced its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 14.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 112,452 shares of the company’s stock after selling 18,831 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Fortune Brands Innovations were worth $6,004,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Elevation Point Wealth Partners LLC purchased a new stake in Fortune Brands Innovations in the second quarter worth $26,000. Hilltop National Bank bought a new position in Fortune Brands Innovations in the third quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its position in Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after acquiring an additional 323 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Fortune Brands Innovations during the 2nd quarter valued at approximately $34,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $37,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $58.30 on Friday. Fortune Brands Innovations, Inc. has a 12 month low of $44.04 and a 12 month high of $75.68. The business’s fifty day simple moving average is $52.53 and its two-hundred day simple moving average is $53.79. 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 company has a market cap of $7.00 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 3.98 and a beta of 1.40.

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). Fortune Brands Innovations had a net margin of 7.30% and a return on equity of 19.28%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the business earned $1.16 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. Research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Friday, February 20th will be paid a $0.26 dividend. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, February 20th. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 37.31%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FBIN shares. Royal Bank Of Canada restated an “outperform” rating and set a $62.00 price target on shares of Fortune Brands Innovations in a research report on Friday, January 9th. Barclays upped their target price on shares of Fortune Brands Innovations from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Monday, December 29th. UBS Group dropped their price objective on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Fortune Brands Innovations in a research note on Friday, October 31st. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus price target of $62.33.

About Fortune Brands Innovations

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.