J. Goldman & Co LP 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 Form 13F filing with the Securities & Exchange Commission. The firm purchased 48,413 shares of the company's stock, valued at approximately $2,658,000.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Hsbc Holdings PLC bought a new stake in shares of Fortune Brands Innovations in the second quarter valued at approximately $294,000. EFG International AG acquired a new position in Fortune Brands Innovations in the 2nd quarter valued at approximately $32,000. Ancora Advisors LLC bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth approximately $13,141,000. Canada Pension Plan Investment Board bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth approximately $95,533,000. Finally, Legal & General Group Plc acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $8,154,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Fortune Brands Innovations news, CEO Jesse G. Singh acquired 19,560 shares of the business's stock in a transaction on Friday, August 7th. The stock was purchased at an average price of $50.93 per share, for a total transaction of $996,190.80. Following the transaction, the chief executive officer owned 39,285 shares in the company, valued at $2,000,785.05. This trade represents a 99.16% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward P. Garden bought 320,067 shares of the firm's stock in a transaction dated Wednesday, June 10th. The shares were acquired at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the acquisition, the director directly owned 3,940,234 shares of the company's stock, valued at approximately $159,973,500.40. The trade was a 8.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 359,352 shares of company stock valued at $15,009,905 over the last ninety days. Insiders own 3.32% of the company's stock.
Fortune Brands Innovations Stock Up 1.7%
FBIN opened at $45.74 on Wednesday. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 3.80 and a beta of 1.31. 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 firm's 50-day simple moving average is $48.83 and its 200-day simple moving average is $45.27. Fortune Brands Innovations, Inc. has a twelve month low of $32.34 and a twelve month high of $64.84.
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 (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.55. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Fortune Brands Innovations had a net margin of 3.39% and a return on equity of 19.50%. The firm's quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm posted $1.00 EPS. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. Equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 3.32 EPS for the current fiscal year.
Fortune Brands Innovations Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Friday, August 21st will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 21st. Fortune Brands Innovations's payout ratio is presently 84.55%.
Analyst Ratings Changes
Several research analysts recently commented on the company. Evercore set a $56.00 target price on Fortune Brands Innovations in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Fortune Brands Innovations from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Royal Bank Of Canada lifted their target price on shares of Fortune Brands Innovations from $50.00 to $57.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. BMO Capital Markets increased their price target on shares of Fortune Brands Innovations from $50.00 to $53.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 28th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $68.00 price target on shares of Fortune Brands Innovations in a research note on Wednesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $55.71.
View Our Latest Analysis on FBIN
About Fortune Brands Innovations
(
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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