Bamco Inc. NY purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,158,552 shares of the company's stock, valued at approximately $63,605,000. Bamco Inc. NY owned approximately 0.97% of Fortune Brands Innovations at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Garden Investment Management L.P. purchased a new stake in Fortune Brands Innovations in the 1st quarter valued at approximately $137,471,000. Diamond Hill Capital Management Inc. raised its stake in shares of Fortune Brands Innovations by 7.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 554,244 shares of the company's stock worth $27,723,000 after buying an additional 37,861 shares in the last quarter. Black Cypress Capital Management LLC raised its stake in shares of Fortune Brands Innovations by 22.6% during the 4th quarter. Black Cypress Capital Management LLC now owns 150,825 shares of the company's stock worth $7,544,000 after buying an additional 27,824 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Fortune Brands Innovations by 2,071.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 147,689 shares of the company's stock valued at $7,387,000 after buying an additional 140,888 shares during the period. Finally, Vulcan Value Partners LLC boosted its stake in shares of Fortune Brands Innovations by 18.2% in the fourth quarter. Vulcan Value Partners LLC now owns 353,520 shares of the company's stock valued at $17,683,000 after buying an additional 54,492 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.
Insiders Place Their Bets
In related news, Director Edward P. Garden purchased 320,067 shares of the company's stock in a transaction on Wednesday, June 10th. The stock was bought at an average price of $40.60 per share, with a total value of $12,994,720.20. Following the completion of the transaction, the director owned 3,940,234 shares of the company's stock, valued at approximately $159,973,500.40. This represents a 8.84% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jesse G. Singh purchased 19,560 shares of the company's stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $50.93 per share, with a total value of $996,190.80. Following the transaction, the chief executive officer directly owned 39,285 shares of the company's stock, valued at $2,000,785.05. This represents a 99.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 359,352 shares of company stock worth $15,009,905. 3.32% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on FBIN. Barclays dropped their price objective on Fortune Brands Innovations from $56.00 to $54.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 5th. UBS Group raised their target price on Fortune Brands Innovations from $63.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Fortune Brands Innovations from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $68.00 price target on shares of Fortune Brands Innovations in a research note on Wednesday, August 5th. Finally, Robert W. Baird set a $44.00 price target on shares of Fortune Brands Innovations in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $55.71.
Read Our Latest Stock Report on Fortune Brands Innovations
Fortune Brands Innovations Stock Up 1.2%
FBIN opened at $46.23 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.05 and a current ratio of 2.01. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 3.86 and a beta of 1.31. Fortune Brands Innovations, Inc. has a one year low of $32.34 and a one year high of $64.84. The business's fifty day moving average is $48.95 and its two-hundred day moving average is $45.17.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.55. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the business posted $1.00 earnings per share. The business's revenue for the quarter was down 4.1% on a year-over-year basis. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. Analysts anticipate that Fortune Brands Innovations, Inc. will post 3.32 EPS for the current fiscal year.
Fortune Brands Innovations Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Friday, August 21st will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, August 21st. Fortune Brands Innovations's dividend payout ratio is 84.55%.
Fortune Brands Innovations Company Profile
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Free Report)
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.
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