Black Cypress Capital Management LLC Acquires New Shares in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Black Cypress Capital Management acquired 243,487 shares of Fortune Brands Innovations worth approximately $13.4 million, making FBIN its fourth-largest portfolio holding. Institutional investors and hedge funds collectively own 87.6% of the company.
• Company insiders bought 359,352 shares worth about $15.0 million over the past three months, including significant purchases by Director Edward P. Garden and CEO Jesse G. Singh.
• FBIN beat quarterly EPS estimates with $1.35 versus the $0.80 consensus, though revenue fell 4.1% year over year. Analysts maintain an average “Hold” rating with a $55.33 price target, while the company declared a $0.26 quarterly dividend yielding 2.3% annually.

Black Cypress Capital Management LLC acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 243,487 shares of the company's stock, valued at approximately $13,367,000. Fortune Brands Innovations makes up 8.9% of Black Cypress Capital Management LLC's investment portfolio, making the stock its 4th largest position. Black Cypress Capital Management LLC owned about 0.20% of Fortune Brands Innovations as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Danske Bank A S acquired a new stake in Fortune Brands Innovations in the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company's stock worth $27,000 after buying an additional 323 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in Fortune Brands Innovations by 1,275.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company's stock valued at $28,000 after acquiring an additional 510 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Fortune Brands Innovations in the first quarter valued at approximately $30,000. Finally, Brown Brothers Harriman & Co. grew its position in shares of Fortune Brands Innovations by 628.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 605 shares of the company's stock valued at $30,000 after purchasing an additional 522 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Edward P. Garden purchased 320,067 shares of the firm's stock in a transaction on Wednesday, June 10th. The shares were purchased at an average cost of $40.60 per share, with a total value of $12,994,720.20. Following the purchase, the director owned 3,940,234 shares in the company, valued at approximately $159,973,500.40. This represents a 8.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jesse G. Singh purchased 19,560 shares of the stock in a transaction on Friday, August 7th. The stock was acquired at an average price of $50.93 per share, with a total value of $996,190.80. Following the acquisition, 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 disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 359,352 shares of company stock worth $15,009,905. 3.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings upgraded Fortune Brands Innovations from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Zacks Research upgraded Fortune Brands Innovations from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. BMO Capital Markets increased their price objective on Fortune Brands Innovations from $50.00 to $53.00 and gave the company a "market perform" rating in a research note on Tuesday, July 28th. Robert W. Baird set a $44.00 price objective on Fortune Brands Innovations in a research report on Friday, May 8th. Finally, Evercore set a $56.00 target price on shares of Fortune Brands Innovations in a research note on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $55.33.

Fortune Brands Innovations Trading Down 2.7%

Shares of FBIN opened at $45.28 on Wednesday. The stock has a fifty day moving average of $48.54 and a two-hundred day moving average of $45.65. 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 capitalization of $5.40 billion, a PE ratio of 36.81, a price-to-earnings-growth ratio of 4.00 and a beta of 1.31. 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.55. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.The business's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 EPS. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. As a group, analysts forecast that Fortune Brands Innovations, Inc. will post 3.36 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, August 21st. This represents a $1.04 annualized dividend and a yield of 2.3%. Fortune Brands Innovations's dividend payout ratio is 84.55%.

Fortune Brands Innovations Company 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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