Canada Pension Plan Investment Board Makes New $95.53 Million Investment in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Canada Pension Plan Investment Board purchased 1.74 million shares of Fortune Brands Innovations, valued at approximately $95.5 million, giving it a 1.46% stake. Institutional investors collectively own 87.6% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $55.71; Truist upgraded the stock to “Buy” and raised its target to $70.
• Fortune Brands Innovations reported quarterly EPS of $1.35, well above the $0.80 consensus estimate, although revenue declined 4.1% year over year. The company also declared a quarterly dividend of $0.26 per share, representing a 2.2% annualized yield.

Canada Pension Plan Investment Board purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,740,128 shares of the company's stock, valued at approximately $95,533,000. Canada Pension Plan Investment Board owned 1.46% of Fortune Brands Innovations as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Legal & General Group Plc bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter valued at $8,154,000. The Manufacturers Life Insurance Company bought a new position in Fortune Brands Innovations during the second quarter worth $4,736,000. Cullen Capital Management LLC acquired a new stake in Fortune Brands Innovations in the second quarter worth $678,000. Sanctuary Advisors LLC acquired a new stake in Fortune Brands Innovations in the second quarter worth $432,000. Finally, Atlas FRM LLC bought a new stake in Fortune Brands Innovations in the second quarter valued at $100,192,500,000. 87.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on FBIN. Truist Financial upgraded shares of Fortune Brands Innovations from a "hold" rating to a "buy" rating and upped their price objective for the company from $45.00 to $70.00 in a report on Tuesday, June 30th. Royal Bank Of Canada raised their target price on Fortune Brands Innovations from $50.00 to $57.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. BMO Capital Markets boosted their target price on Fortune Brands Innovations from $50.00 to $53.00 and gave the company a "market perform" rating in a research report on Tuesday, July 28th. Robert W. Baird set a $44.00 price target on Fortune Brands Innovations in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded Fortune Brands Innovations from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations has a consensus rating of "Hold" and an average price target of $55.71.

Insider Transactions at Fortune Brands Innovations

In related news, CEO Jesse G. Singh acquired 19,725 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $51.66 per share, with a total value of $1,018,993.50. Following the acquisition, the chief executive officer owned 19,725 shares of the company's stock, valued at approximately $1,018,993.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward P. Garden acquired 320,067 shares of the firm's stock in a transaction 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 completion of the acquisition, the director directly owned 3,940,234 shares in the company, valued at approximately $159,973,500.40. This represents a 8.84% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 359,352 shares of company stock valued at $15,009,905 in the last quarter. Company insiders own 3.32% of the company's stock.

Fortune Brands Innovations Stock Performance

FBIN opened at $46.23 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 1.11. The company's fifty day moving average price is $48.95 and its two-hundred day moving average price is $45.17. Fortune Brands Innovations, Inc. has a 1-year low of $32.34 and a 1-year high of $64.84. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 3.86 and a beta of 1.31.

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 analysts' expectations of $1.16 billion. Fortune Brands Innovations had a net margin of 3.39% and a return on equity of 19.50%. The business's revenue was down 4.1% on a year-over-year basis. During the same period last year, the company earned $1.00 earnings per share. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. On average, analysts expect that Fortune Brands Innovations, Inc. will post 3.32 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

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

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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