Bank of New York Mellon Corp purchased a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 836,315 shares of the company's stock, valued at approximately $45,914,000. Bank of New York Mellon Corp owned approximately 0.70% of Fortune Brands Innovations at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in FBIN. Royal Bank of Canada boosted its position in shares of Fortune Brands Innovations by 0.8% during the 1st quarter. Royal Bank of Canada now owns 41,713 shares of the company's stock valued at $2,539,000 after acquiring an additional 324 shares during the last quarter. Empowered Funds LLC increased its position in shares of Fortune Brands Innovations by 20.5% in the first quarter. Empowered Funds LLC now owns 10,335 shares of the company's stock valued at $629,000 after acquiring an additional 1,761 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Fortune Brands Innovations by 83.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 852 shares of the company's stock valued at $52,000 after purchasing an additional 388 shares during the period. Cetera Investment Advisers grew its stake in Fortune Brands Innovations by 7.6% in the second quarter. Cetera Investment Advisers now owns 10,382 shares of the company's stock worth $534,000 after purchasing an additional 731 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Fortune Brands Innovations by 158.3% in the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company's stock worth $27,000 after purchasing an additional 323 shares during the period. Hedge funds and other institutional investors own 87.60% of the company's stock.
Fortune Brands Innovations Stock Down 2.1%
FBIN opened at $45.35 on Friday. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 3.91 and a beta of 1.31. The firm has a 50 day moving average price of $49.01 and a 200-day moving average price of $45.05. Fortune Brands Innovations, Inc. has a twelve month low of $32.34 and a twelve month high of $64.84. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 1.11.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous 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 forecast that Fortune Brands Innovations, Inc. will post 3.33 earnings per share for the current 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 issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, August 21st. Fortune Brands Innovations's dividend payout ratio is presently 84.55%.
Insider Activity at Fortune Brands Innovations
In related news, CEO Jesse G. Singh acquired 19,560 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $50.93 per share, with a total value of $996,190.80. Following the completion of the transaction, the chief executive officer directly owned 39,285 shares in the company, valued at $2,000,785.05. This trade represents a 99.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward P. Garden bought 320,067 shares of the company's stock in a transaction that occurred on 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 completion of the purchase, the director owned 3,940,234 shares in the company, valued at $159,973,500.40. The trade was a 8.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 359,352 shares of company stock worth $15,009,905. Company insiders own 3.32% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on FBIN shares. Robert W. Baird set a $44.00 price target on shares of Fortune Brands Innovations in a research note on Friday, May 8th. Evercore set a $56.00 price target on Fortune Brands Innovations in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Fortune Brands Innovations from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Wells Fargo & Company assumed coverage on shares of Fortune Brands Innovations in a report on Monday. They issued an "overweight" rating and a $52.00 target price for the company. Finally, Barclays cut their price target on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $55.71.
Get Our Latest Stock 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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