286,448 Shares in Fortune Brands Innovations, Inc. $FBIN Acquired by Systematic Financial Management LP

Key Points

• Systematic Financial Management LP opened a new position in Fortune Brands Innovations, buying 286,448 shares worth about $14.3 million in the fourth quarter and owning 0.24% of the company.
• Fortune Brands director Edward P. Garden bought 403,000 shares for about $13.46 million, and insiders have purchased 466,300 shares over the last three months.
• The company reported Q1 earnings and revenue that matched analyst estimates, and it also announced a quarterly dividend of $0.26 per share payable June 10, for an annualized yield of 2.8%.

Systematic Financial Management LP bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 286,448 shares of the company's stock, valued at approximately $14,328,000. Systematic Financial Management LP owned 0.24% of Fortune Brands Innovations as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in Fortune Brands Innovations by 1.2% in the fourth quarter. Assetmark Inc. now owns 17,728 shares of the company's stock valued at $887,000 after acquiring an additional 208 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in Fortune Brands Innovations by 3.0% in the fourth quarter. TD Private Client Wealth LLC now owns 7,308 shares of the company's stock valued at $366,000 after acquiring an additional 213 shares in the last quarter. UMB Bank n.a. raised its holdings in Fortune Brands Innovations by 8.3% in the third quarter. UMB Bank n.a. now owns 2,794 shares of the company's stock valued at $149,000 after acquiring an additional 215 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Fortune Brands Innovations by 1.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 21,341 shares of the company's stock valued at $1,139,000 after acquiring an additional 219 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in Fortune Brands Innovations by 11.3% in the third quarter. Fifth Third Bancorp now owns 2,166 shares of the company's stock valued at $116,000 after purchasing an additional 220 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fortune Brands Innovations

In related news, Director Edward P. Garden acquired 403,000 shares of the company's stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of $33.40 per share, with a total value of $13,460,200.00. Following the purchase, the director directly owned 3,556,867 shares in the company, valued at $118,799,357.80. The trade was a 12.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have bought 466,300 shares of company stock worth $15,659,238. Corporate insiders own 3.32% of the company's stock.

Fortune Brands Innovations Trading Down 0.0%

Shares of FBIN stock opened at $37.64 on Monday. Fortune Brands Innovations, Inc. has a twelve month low of $32.34 and a twelve month high of $64.84. The firm has a 50-day moving average price of $39.09 and a 200 day moving average price of $48.04. The company has a current ratio of 2.13, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.43 and a beta of 1.40.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.53 EPS for the quarter, meeting analysts' consensus estimates of $0.53. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $0.66 EPS. The company's quarterly revenue was down 2.1% compared to the same quarter last year. Research analysts forecast that Fortune Brands Innovations, Inc. will post 3.13 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.8%. Fortune Brands Innovations's dividend payout ratio is currently 46.22%.

Wall Street Analyst Weigh In

Several equities analysts have commented on FBIN shares. The Goldman Sachs Group dropped their price target on shares of Fortune Brands Innovations from $69.00 to $61.00 and set a "buy" rating on the stock in a research note on Tuesday, February 17th. BMO Capital Markets dropped their price target on shares of Fortune Brands Innovations from $56.00 to $50.00 and set a "market perform" rating on the stock in a research note on Monday, April 20th. Barclays dropped their price target on shares of Fortune Brands Innovations from $43.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Monday, May 11th. Zelman & Associates cut Fortune Brands Innovations from an "outperform" rating to a "neutral" rating in a research report on Friday, February 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a "neutral" rating for the company in a research report on Friday, May 15th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Fortune Brands Innovations presently has an average rating of "Hold" and a consensus target price of $51.31.

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.

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