Royal Bank of Canada Has $15.89 Million Holdings in Fortune Brands Innovations, Inc. $FBIN

Key Points

• Royal Bank of Canada increased its FBIN stake by 411.4% in the first quarter, bringing its holdings to 407,802 shares valued at $15.89 million. Institutional investors collectively own 87.6% of Fortune Brands Innovations.
• Insiders purchased 786,367 shares worth approximately $28.7 million over the past quarter, including Director Edward P. Garden’s purchase of 403,000 shares at $33.40 each.
• Fortune Brands Innovations beat quarterly earnings expectations with EPS of $1.35 versus the $0.80 consensus, though revenue fell 4.1% year over year. Analysts maintain a consensus “Hold” rating, while the company declared a quarterly dividend of $0.26 per share, yielding about 2.1%.

Royal Bank of Canada raised its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 411.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,802 shares of the company's stock after acquiring an additional 328,063 shares during the quarter. Royal Bank of Canada owned approximately 0.34% of Fortune Brands Innovations worth $15,892,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FBIN. Pictet Asset Management Holding SA boosted its holdings 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 during the period. Orbis Allan Gray Ltd lifted its position in Fortune Brands Innovations by 586.7% in the 4th quarter. Orbis Allan Gray Ltd now owns 7,272,289 shares of the company's stock worth $363,760,000 after buying an additional 6,213,274 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Fortune Brands Innovations by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,064,086 shares of the company's stock worth $158,362,000 after buying an additional 271,371 shares in the last quarter. Garden Investment Management L.P. acquired a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at $137,471,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Fortune Brands Innovations by 20.2% during the 4th quarter. Bank of New York Mellon Corp now owns 3,236,159 shares of the company's stock valued at $161,873,000 after acquiring an additional 544,332 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fortune Brands Innovations

In related news, Director Edward P. Garden acquired 403,000 shares of the business's stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $33.40 per share, with a total value of $13,460,200.00. Following the purchase, the director owned 3,556,867 shares of the company's stock, valued at approximately $118,799,357.80. The trade was a 12.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders bought 786,367 shares of company stock worth $28,653,958. Corporate insiders own 3.32% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FBIN. JPMorgan Chase & Co. cut their price objective on Fortune Brands Innovations from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Friday, May 15th. Zacks Research upgraded Fortune Brands Innovations from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. UBS Group upped their target price on Fortune Brands Innovations from $63.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday. Weiss Ratings downgraded Fortune Brands Innovations from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, July 23rd. Finally, Robert W. Baird set a $44.00 price target on Fortune Brands Innovations in a report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $55.33.

Fortune Brands Innovations Stock Down 3.7%

FBIN stock opened at $50.37 on Friday. 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, Inc. has a 1 year low of $32.34 and a 1 year high of $64.84. The company has a fifty day simple moving average of $47.12 and a 200 day simple moving average of $46.22. The firm has a market cap of $6.01 billion, a PE ratio of 40.95, a PEG ratio of 3.21 and a beta of 1.31.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its 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 firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The business'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. Sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 3.3 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Friday, August 21st will be issued 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 dividend yield of 2.1%. Fortune Brands Innovations's dividend payout ratio is currently 84.55%.

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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