Diamond Hill Capital Management LLC Investment Advisor Invests $55.27 Million in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Diamond Hill Capital Management acquired 1.01 million shares of Fortune Brands Innovations valued at approximately $55.3 million, representing a 0.84% stake. Institutional investors collectively own 87.6% of the company.
• Company insiders have recently increased their holdings, acquiring 825,652 shares worth approximately $30.7 million over the past 90 days, including purchases by Director Edward P. Garden and CEO Jesse G. Singh.
• Fortune Brands Innovations exceeded quarterly EPS expectations with $1.35 versus the $0.80 consensus, though revenue declined 4.1% year over year. Analysts maintain a consensus “Hold” rating with a $55.33 price target, and the company declared a $0.26 quarterly dividend.

Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,006,752 shares of the company's stock, valued at approximately $55,271,000. Diamond Hill Capital Management LLC Investment Advisor owned 0.84% of Fortune Brands Innovations as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Danske Bank A S bought a new position in Fortune Brands Innovations in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its position in shares of Fortune Brands Innovations by 158.3% in the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company's stock valued at $27,000 after acquiring an additional 323 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in shares of 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 worth $28,000 after acquiring an additional 510 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Fortune Brands Innovations during the first quarter worth $30,000. Finally, Brown Brothers Harriman & Co. increased its position in Fortune Brands Innovations by 628.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 605 shares of the company's stock worth $30,000 after acquiring an additional 522 shares during the period. Institutional investors and hedge funds own 87.60% of the company's stock.

Insider Transactions at Fortune Brands Innovations

In related news, Director Edward P. Garden bought 403,000 shares of the company's stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $33.40 per share, with a total value of $13,460,200.00. Following the acquisition, the director owned 3,556,867 shares in the company, valued at approximately $118,799,357.80. This represents a 12.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jesse G. Singh bought 19,725 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $51.66 per share, with a total value of $1,018,993.50. Following the transaction, the chief executive officer directly owned 19,725 shares in the company, valued at $1,018,993.50. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 825,652 shares of company stock valued at $30,669,143. Corporate insiders own 3.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FBIN shares. The Goldman Sachs Group reissued a "buy" rating and issued a $68.00 price target on shares of Fortune Brands Innovations in a report on Wednesday, August 5th. Evercore set a $56.00 price objective on shares of Fortune Brands Innovations in a research report on Wednesday, August 5th. JPMorgan Chase & Co. reduced their target price on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Friday, May 15th. Robert W. Baird set a $44.00 price target on Fortune Brands Innovations in a research note on Friday, May 8th. Finally, Zacks Research raised Fortune Brands Innovations from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $55.33.

Fortune Brands Innovations Trading Up 0.0%

Shares of Fortune Brands Innovations stock opened at $47.86 on Monday. The firm has a market capitalization of $5.71 billion, a PE ratio of 38.91, a price-to-earnings-growth ratio of 4.00 and a beta of 1.31. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.01 and a quick ratio of 1.05. The company's fifty day moving average price is $48.32 and its two-hundred day moving average price is $45.78. Fortune Brands Innovations, Inc. has a 52-week low of $32.34 and a 52-week high of $64.84.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced 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. 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 during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the prior year, the company posted $1.00 EPS. The business's revenue 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. On average, analysts expect that Fortune Brands Innovations, Inc. will post 3.36 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Friday, August 21st will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, August 21st. Fortune Brands Innovations's dividend 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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