BlackRock Inc. Buys New Stake in Fortune Brands Innovations, Inc. $FBIN

BlackRock Inc. purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,348,914 shares of the company's stock, valued at approximately $1,062,255,000. BlackRock Inc. owned about 16.22% of Fortune Brands Innovations as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FBIN. Osaic Holdings Inc. lifted its holdings in shares of Fortune Brands Innovations by 0.8% in the 4th quarter. Osaic Holdings Inc. now owns 24,447 shares of the company's stock valued at $1,223,000 after buying an additional 198 shares during the period. TD Private Client Wealth LLC grew its holdings in Fortune Brands Innovations by 3.0% during the fourth quarter. TD Private Client Wealth LLC now owns 7,308 shares of the company's stock worth $366,000 after acquiring an additional 213 shares during the period. Geneos Wealth Management Inc. raised its position in Fortune Brands Innovations by 30.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,108 shares of the company's stock valued at $57,000 after acquiring an additional 256 shares in the last quarter. Parallel Advisors LLC raised its position in Fortune Brands Innovations by 31.8% during the first quarter. Parallel Advisors LLC now owns 1,247 shares of the company's stock valued at $49,000 after acquiring an additional 301 shares in the last quarter. Finally, IMA Advisory Services Inc. lifted its holdings in Fortune Brands Innovations by 3.3% in the first quarter. IMA Advisory Services Inc. now owns 9,713 shares of the company's stock valued at $379,000 after acquiring an additional 306 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Price Performance

FBIN stock opened at $44.64 on Friday. Fortune Brands Innovations, Inc. has a 52-week low of $32.34 and a 52-week 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. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 3.76 and a beta of 1.31. The business has a fifty day moving average of $48.73 and a two-hundred day moving average of $45.52.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released 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 business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.16 billion. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.The company's revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 EPS. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. As a group, research analysts anticipate that Fortune Brands Innovations, Inc. will post 3.36 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Friday, August 21st will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis 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 84.55%.

Wall Street Analyst Weigh In

FBIN has been the subject of several analyst reports. Barclays decreased their target price on shares of Fortune Brands Innovations from $56.00 to $54.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 5th. Evercore set a $56.00 price target on shares of Fortune Brands Innovations in a research report on Wednesday, August 5th. Truist Financial raised shares of Fortune Brands Innovations from a "hold" rating to a "buy" rating and lifted their price objective for the company from $45.00 to $70.00 in a report on Tuesday, June 30th. Weiss Ratings upgraded shares of Fortune Brands Innovations from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada increased their target price on shares of Fortune Brands Innovations from $50.00 to $57.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $55.33.

Insider Activity at Fortune Brands Innovations

In related news, CEO Jesse G. Singh acquired 19,725 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were purchased at an average cost of $51.66 per share, for a total transaction of $1,018,993.50. Following the acquisition, the chief executive officer owned 19,725 shares in the company, valued at $1,018,993.50. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward P. Garden acquired 320,067 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were bought at an average cost of $40.60 per share, with a total value of $12,994,720.20. Following the transaction, the director directly owned 3,940,234 shares in the company, valued at $159,973,500.40. This trade represents a 8.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 359,352 shares of company stock worth $15,009,905. Company insiders own 3.32% of the company's stock.

About Fortune Brands Innovations

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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