Arrowstreet Capital Limited Partnership Buys 153,823 Shares of Fortune Brands Innovations, Inc. $FBIN

Arrowstreet Capital Limited Partnership boosted its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 50.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 456,079 shares of the company’s stock after acquiring an additional 153,823 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Fortune Brands Innovations were worth $23,479,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FBIN. National Pension Service increased its position in shares of Fortune Brands Innovations by 74.5% in the first quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after purchasing an additional 199 shares during the period. Elevation Point Wealth Partners LLC bought a new position in Fortune Brands Innovations in the 2nd quarter valued at about $26,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Fortune Brands Innovations by 119.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock valued at $28,000 after buying an additional 293 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $34,000. Finally, Ameritas Advisory Services LLC bought a new position in Fortune Brands Innovations in the second quarter valued at approximately $37,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FBIN has been the topic of a number of research analyst reports. Barclays reduced their target price on Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Vertical Research began coverage on Fortune Brands Innovations in a research note on Tuesday, October 21st. They issued a “hold” rating and a $52.00 price objective on the stock. Evercore ISI reissued an “outperform” rating on shares of Fortune Brands Innovations in a report on Friday, October 31st. 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 on the stock in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Monday, December 1st. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and a consensus target price of $64.40.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $50.25 on Monday. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 3.71 and a beta of 1.40. The company has a quick ratio of 0.94, a current ratio of 1.95 and a debt-to-equity ratio of 1.12. Fortune Brands Innovations, Inc. has a twelve month low of $44.04 and a twelve month high of $79.96. The stock has a fifty day simple moving average of $50.07 and a 200 day simple moving average of $53.14.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm posted $1.16 EPS. 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. Sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be given a $0.25 dividend. The ex-dividend date is Friday, November 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. Fortune Brands Innovations’s payout ratio is 37.31%.

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.