Franklin Resources Inc. Sells 15,923 Shares of Fortune Brands Innovations, Inc. $FBIN

Franklin Resources Inc. reduced its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 54.4% in the 2nd quarter, Holdings Channel reports. The firm owned 13,357 shares of the company’s stock after selling 15,923 shares during the quarter. Franklin Resources Inc.’s holdings in Fortune Brands Innovations were worth $688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. National Pension Service grew its stake in Fortune Brands Innovations by 74.5% during the first quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after buying an additional 199 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Fortune Brands Innovations by 119.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock valued at $28,000 after acquiring an additional 293 shares during 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. Ameritas Advisory Services LLC acquired a new stake in Fortune Brands Innovations during the 2nd quarter worth $37,000. Finally, LRI Investments LLC raised its position in shares of Fortune Brands Innovations by 1,142.6% during the 2nd quarter. LRI Investments LLC now owns 758 shares of the company’s stock valued at $39,000 after acquiring an additional 697 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on FBIN. Truist Financial restated a “hold” rating and issued a $60.00 price target (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Evercore ISI reissued an “outperform” rating on shares of Fortune Brands Innovations in a research note on Friday, October 31st. Royal Bank Of Canada decreased their target price on Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Monday, December 1st. Finally, UBS Group reduced 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. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and a consensus price target of $64.40.

Fortune Brands Innovations Stock Down 0.9%

Shares of Fortune Brands Innovations stock opened at $50.25 on Monday. Fortune Brands Innovations, Inc. has a 1 year low of $44.04 and a 1 year high of $79.96. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.95 and a quick ratio of 0.94. The company has a market capitalization of $6.04 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 3.71 and a beta of 1.40. The business has a 50-day moving average of $50.07 and a two-hundred day moving average of $53.14.

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 the consensus estimate of $1.10 by ($0.01). The business had revenue of $1.15 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. As a group, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 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.