Bank of America Corp DE Buys 108,801 Shares of Fortune Brands Innovations, Inc. $FBIN

Key Points

• Bank of America increased its Fortune Brands Innovations stake by 7.6%, acquiring 108,801 shares and bringing its holdings to 1.53 million shares, or roughly 1.28% of the company. Institutional investors collectively own 87.6% of FBIN.
• Company insiders have also been buying shares, including substantial purchases by Director Edward Garden and CEO Jesse Singh. Insiders acquired 825,652 shares worth approximately $30.7 million over the past 90 days.
• FBIN beat quarterly earnings expectations with adjusted EPS of $1.35 versus an $0.80 estimate, though revenue declined 4.1% year over year. Analysts maintain a consensus “Hold” rating with a $55.33 price target, while the company declared a quarterly dividend of $0.26 per share.

Bank of America Corp DE lifted its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 7.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,531,660 shares of the company's stock after buying an additional 108,801 shares during the quarter. Bank of America Corp DE owned about 1.28% of Fortune Brands Innovations worth $59,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Danske Bank A S purchased a new stake in shares of Fortune Brands Innovations in the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC increased its position in Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company's stock valued at $27,000 after buying an additional 323 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in Fortune Brands Innovations by 1,275.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company's stock valued at $28,000 after buying an additional 510 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Fortune Brands Innovations in the fourth quarter worth $28,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in Fortune Brands Innovations in the third quarter worth $31,000. 87.60% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Edward P. Garden purchased 320,067 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were purchased at an average price of $40.60 per share, with a total value of $12,994,720.20. Following the completion of the acquisition, the director directly owned 3,940,234 shares in the company, valued at $159,973,500.40. This represents a 8.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jesse G. Singh acquired 19,560 shares of Fortune Brands Innovations stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average cost of $50.93 per share, for a total transaction of $996,190.80. Following the purchase, the chief executive officer directly owned 39,285 shares of the company's stock, valued at approximately $2,000,785.05. This trade represents a 99.16% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 825,652 shares of company stock valued at $30,669,143. 3.32% of the stock is owned by company insiders.

Fortune Brands Innovations Trading Down 5.3%

FBIN stock opened at $48.09 on Tuesday. The firm has a market cap of $5.74 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 1.87 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 has a fifty day moving average price of $47.54 and a 200 day moving average price of $46.07. Fortune Brands Innovations, Inc. has a fifty-two week low of $32.34 and a fifty-two week high of $64.84.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.80 by $0.55. Fortune Brands Innovations had a net margin of 3.39% and a return on equity of 19.50%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted $1.00 EPS. The firm's revenue was down 4.1% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. Sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 3.32 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Friday, August 21st will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, August 21st. Fortune Brands Innovations's payout ratio is presently 84.55%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FBIN shares. Zacks Research upgraded Fortune Brands Innovations from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. BMO Capital Markets upped 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 note on Tuesday, July 28th. Bank of America cut their price objective on shares of Fortune Brands Innovations from $52.00 to $42.00 and set an "underperform" rating on the stock in a research report on Monday, April 20th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $68.00 price objective on shares of Fortune Brands Innovations in a research report on Wednesday, August 5th. Finally, Barclays lowered their price target 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. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Fortune Brands Innovations currently has an average rating of "Hold" and a consensus price target of $55.33.

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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