Jupiter Topco LLC Invests $20.75 Million in Fortune Brands Innovations, Inc. $FBIN

Jupiter Topco LLC bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 377,938 shares of the company's stock, valued at approximately $20,747,000. Jupiter Topco LLC owned approximately 0.32% of Fortune Brands Innovations as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new stake in Fortune Brands Innovations in the second quarter valued at approximately $1,062,255,000. Pictet Asset Management Holding SA lifted its position in shares of Fortune Brands Innovations by 74.0% during the first quarter. Pictet Asset Management Holding SA now owns 7,798,078 shares of the company's stock worth $303,757,000 after purchasing an additional 3,317,232 shares in the last quarter. Orbis Allan Gray Ltd lifted its position in shares of Fortune Brands Innovations by 586.7% during the fourth quarter. Orbis Allan Gray Ltd now owns 7,272,289 shares of the company's stock worth $363,760,000 after purchasing an additional 6,213,274 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Fortune Brands Innovations by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,064,086 shares of the company's stock valued at $158,362,000 after purchasing an additional 271,371 shares during the period. Finally, Garden Investment Management L.P. purchased a new position in shares of Fortune Brands Innovations in the first quarter valued at $137,471,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price target 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. Weiss Ratings raised shares of Fortune Brands Innovations from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Barclays lowered their target price on 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. DA Davidson initiated coverage on Fortune Brands Innovations in a research note on Monday. They issued a "buy" rating and a $64.00 price target on the stock. Finally, 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $55.71.

Insider Activity at Fortune Brands Innovations

In other news, Director Edward P. Garden purchased 320,067 shares of the stock in a transaction dated Wednesday, June 10th. The stock was acquired 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 $159,973,500.40. The trade was a 8.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jesse G. Singh purchased 19,560 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average cost of $50.93 per share, for a total transaction of $996,190.80. Following the completion of the transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 359,352 shares of company stock worth $15,009,905 in the last 90 days. 3.32% of the stock is currently owned by insiders.

Fortune Brands Innovations Trading Up 0.5%

NYSE FBIN opened at $45.54 on Friday. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 37.02, a price-to-earnings-growth ratio of 3.82 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. Fortune Brands Innovations, Inc. has a 12 month low of $32.34 and a 12 month high of $64.84. The company's fifty day moving average price is $49.07 and its two-hundred day moving average price is $45.06.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results 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 during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. The company'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. As a group, research analysts predict that Fortune Brands Innovations, Inc. will post 3.33 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 2.3%. Fortune Brands Innovations's dividend payout ratio is presently 84.55%.

Fortune Brands Innovations 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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