Fortune Brands Innovations, Inc. $FBIN Position Lifted by Corient Private Wealth LP

Key Points

• Institutional ownership increased: Corient Private Wealth LP boosted its Fortune Brands Innovations stake by 414.6% in the second quarter, while institutional investors collectively owned 87.6% of the company.
• Quarterly earnings beat expectations: Fortune Brands Innovations reported $1.35 in quarterly EPS, exceeding the $0.80 consensus estimate, although revenue declined 4.1% year over year to $1.15 billion.
• Analyst sentiment remains mixed: Price targets range from $54 to $70, with a consensus target of $55.43 and an overall “Hold” rating. The company also declared a $0.26 quarterly dividend, equivalent to a 2.6% yield.

Corient Private Wealth LP grew its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 414.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,946 shares of the company's stock after acquiring an additional 180,431 shares during the period. Corient Private Wealth LP owned about 0.19% of Fortune Brands Innovations worth $12,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Fortune Brands Innovations during the second quarter worth about $1,062,255,000. Pictet Asset Management Holding SA increased its holdings in Fortune Brands Innovations by 74.0% in the first quarter. Pictet Asset Management Holding SA now owns 7,798,078 shares of the company's stock valued at $303,757,000 after buying an additional 3,317,232 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Fortune Brands Innovations by 20.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,236,159 shares of the company's stock valued at $161,873,000 after buying an additional 544,332 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Fortune Brands Innovations by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 4,064,086 shares of the company's stock valued at $158,362,000 after buying an additional 271,371 shares in the last quarter. Finally, Garden Investment Management L.P. bought a new position in Fortune Brands Innovations during the 1st quarter worth approximately $137,471,000. Institutional investors own 87.60% of the company's stock.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, CEO Jesse Singh purchased 19,560 shares of the business's stock in a transaction dated Friday, August 7th. The shares were bought at an average price of $50.93 per share, with a total value of $996,190.80. Following the completion of the acquisition, the chief executive officer owned 39,285 shares in the company, valued at approximately $2,000,785.05. This represents a 99.16% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.32% of the company's stock.

Fortune Brands Innovations Stock Performance

FBIN stock opened at $39.98 on Wednesday. Fortune Brands Innovations, Inc. has a 1 year low of $32.34 and a 1 year high of $64.84. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 1.81 and a beta of 1.30. 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 stock's fifty day moving average is $47.37 and its two-hundred day moving average is $43.75.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.35 EPS 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 business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The company's quarterly 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, research analysts predict that Fortune Brands Innovations, Inc. will post 3.33 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Friday, August 21st were paid a $0.26 dividend. The ex-dividend date was Friday, August 21st. This represents a $1.04 annualized dividend and a dividend yield of 2.6%. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 84.55%.

Analyst Upgrades and Downgrades

FBIN has been the subject of several research reports. Royal Bank Of Canada lifted their target price on Fortune Brands Innovations from $50.00 to $57.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Evercore set a $56.00 target price on shares of Fortune Brands Innovations in a research note on Wednesday, August 5th. UBS Group increased their target price on shares of Fortune Brands Innovations from $63.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Truist Financial upgraded shares of Fortune Brands Innovations from a "hold" rating to a "buy" rating and raised their price target for the stock from $45.00 to $70.00 in a research report on Tuesday, June 30th. Finally, Barclays decreased their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set an "equal weight" rating for the company in a report on Wednesday, August 5th. One 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $55.43.

Fortune Brands Innovations Profile

Fortune Brands Innovations, Inc NYSE: FBIN is a manufacturer and marketer of products used in residential, commercial and remodeling applications. The company focuses on improving the safety, functionality, design and outdoor living experience of buildings through a portfolio of branded products.

Its offerings include plumbing fixtures and related water products, including faucets, showers and other kitchen and bathroom solutions; entry-door systems and fiberglass and steel doors; decking and outdoor-living products; and security products such as locks, safes and connected access solutions.

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