Waters Parkerson & CO. LLC Cuts Position in Fortune Brands Innovations, Inc. $FBIN

Waters Parkerson & CO. LLC trimmed its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 78.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 85,338 shares of the company’s stock after selling 314,839 shares during the period. Waters Parkerson & CO. LLC owned approximately 0.07% of Fortune Brands Innovations worth $4,556,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Alpha Omega Wealth Management LLC lifted its stake in Fortune Brands Innovations by 64.2% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 44,841 shares of the company’s stock valued at $2,308,000 after acquiring an additional 17,526 shares during the period. First Trust Advisors LP grew its stake in shares of Fortune Brands Innovations by 9.1% in the second quarter. First Trust Advisors LP now owns 1,165,342 shares of the company’s stock worth $59,992,000 after acquiring an additional 97,662 shares during the period. Keeler Thomas Management LLC purchased a new position in shares of Fortune Brands Innovations during the second quarter valued at approximately $920,000. Caxton Associates LLP bought a new position in Fortune Brands Innovations during the second quarter valued at approximately $2,717,000. Finally, Strs Ohio purchased a new stake in Fortune Brands Innovations in the first quarter worth approximately $1,055,000. 87.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Evercore ISI restated an “outperform” rating on shares of Fortune Brands Innovations in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Monday, December 29th. Barclays increased their price target 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. Royal Bank Of Canada reissued an “outperform” rating and set a $62.00 price objective on shares of Fortune Brands Innovations in a research report on Friday, January 9th. Finally, Vertical Research assumed coverage on Fortune Brands Innovations in a report on Tuesday, October 21st. They issued a “hold” rating and a $52.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $62.33.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $61.65 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.95 and a quick ratio of 0.94. Fortune Brands Innovations, Inc. has a 1-year low of $44.04 and a 1-year high of $75.82. The business has a 50 day simple moving average of $51.40 and a two-hundred day simple moving average of $53.55. The stock has a market capitalization of $7.41 billion, a PE ratio of 23.00, a P/E/G ratio of 4.18 and a beta of 1.40.

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). Fortune Brands Innovations had a return on equity of 19.28% and a net margin of 7.30%.The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the company earned $1.16 earnings per share. The firm’s 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. On average, research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

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

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.