Professional Advisory Services Inc. Cuts Stock Position in Fortune Brands Innovations, Inc. $FBIN

Professional Advisory Services Inc. lessened its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 8.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 336,315 shares of the company’s stock after selling 31,107 shares during the quarter. Fortune Brands Innovations accounts for 2.3% of Professional Advisory Services Inc.’s investment portfolio, making the stock its 24th largest position. Professional Advisory Services Inc.’s holdings in Fortune Brands Innovations were worth $17,956,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Qube Research & Technologies Ltd purchased a new position in shares of Fortune Brands Innovations in the 2nd quarter worth about $87,611,000. Norges Bank bought a new stake in Fortune Brands Innovations in the second quarter worth about $78,395,000. Balyasny Asset Management L.P. purchased a new position in Fortune Brands Innovations in the second quarter valued at about $77,441,000. First Pacific Advisors LP grew its position in shares of Fortune Brands Innovations by 152.2% during the 2nd quarter. First Pacific Advisors LP now owns 1,998,397 shares of the company’s stock valued at $102,877,000 after acquiring an additional 1,205,880 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $41,931,000. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $61.65 on Tuesday. 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, Inc. has a fifty-two week low of $44.04 and a fifty-two week high of $75.82. The stock has a market cap of $7.41 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 4.19 and a beta of 1.40. The stock has a fifty day moving average of $51.66 and a 200-day moving average of $53.61.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.01). The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down .5% on a year-over-year basis. During the same period last year, the company posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. Equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Friday, February 20th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.7%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 20th. Fortune Brands Innovations’s dividend payout ratio (DPR) is 37.31%.

Analyst Upgrades and Downgrades

FBIN has been the topic of several research analyst reports. Evercore ISI reiterated an “outperform” rating on shares of Fortune Brands Innovations in a research note on Friday, October 31st. Vertical Research assumed coverage on Fortune Brands Innovations in a research note on Tuesday, October 21st. They issued a “hold” rating and a $52.00 target price on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $62.00 price target on shares of Fortune Brands Innovations in a research note on Friday, January 9th. Barclays lifted their price objective on Fortune Brands Innovations from $63.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and a consensus target price of $62.33.

Fortune Brands Innovations Company 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.