California State Teachers Retirement System Acquires 26,653 Shares of Fortune Brands Innovations, Inc. $FBIN

Key Points

• California State Teachers Retirement System increased its Fortune Brands Innovations stake by 23.6%, adding 26,653 shares to own 139,699 shares valued at approximately $5.44 million. Institutional investors collectively hold 87.6% of FBIN’s stock.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $55.33. Recent targets range from $42 to $68, while the stock recently opened at $50.37.
• Fortune Brands Innovations exceeded quarterly earnings expectations, reporting $1.35 per share versus an $0.80 consensus estimate, although revenue fell 4.1% year over year to $1.15 billion. The company declared a quarterly dividend of $0.26 per share, representing a 2.1% annualized yield.

California State Teachers Retirement System boosted its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 23.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 139,699 shares of the company's stock after acquiring an additional 26,653 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Fortune Brands Innovations worth $5,444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FBIN. Danske Bank A S acquired a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted 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 worth $27,000 after acquiring an additional 323 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in Fortune Brands Innovations by 1,275.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company's stock valued at $28,000 after purchasing an additional 510 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Fortune Brands Innovations during the 4th quarter worth about $28,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Fortune Brands Innovations in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 87.60% of the company's stock.

Analyst Upgrades and Downgrades

FBIN has been the subject of a number of research reports. Robert W. Baird set a $44.00 target price on shares of Fortune Brands Innovations in a research note on Friday, May 8th. The Goldman Sachs Group reiterated a "buy" rating and issued a $68.00 price target on shares of Fortune Brands Innovations in a research note on Wednesday. Royal Bank Of Canada raised their price objective on shares of Fortune Brands Innovations from $50.00 to $57.00 and gave the stock an "outperform" rating in a research report on Wednesday. Bank of America decreased their target price on 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. Finally, Zacks Research upgraded Fortune Brands Innovations from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $55.33.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $50.37 on Friday. The stock has a 50-day moving average price of $47.12 and a two-hundred day moving average price of $46.22. Fortune Brands Innovations, Inc. has a 12 month low of $32.34 and a 12 month high of $64.84. The company has a market capitalization of $6.01 billion, a PE ratio of 40.95, a P/E/G ratio of 3.21 and a beta of 1.31. The company has a current ratio of 2.01, a quick ratio of 1.04 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 for the quarter, topping 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 analysts' expectations of $1.16 billion. During the same quarter in the previous year, the firm posted $1.00 earnings per share. Fortune Brands Innovations's revenue for the quarter was down 4.1% on a year-over-year basis. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. Analysts expect that Fortune Brands Innovations, Inc. will post 3.3 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Friday, August 21st will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. Fortune Brands Innovations's dividend payout ratio is 84.55%.

Insiders Place Their Bets

In other Fortune Brands Innovations news, Director Edward P. Garden purchased 320,067 shares of the business's stock in a transaction on Wednesday, June 10th. The shares were purchased at an average cost of $40.60 per share, for a total transaction of $12,994,720.20. Following the acquisition, the director owned 3,940,234 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 786,367 shares of company stock valued at $28,653,958 in the last ninety days. Insiders own 3.32% of the company's stock.

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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