SG Americas Securities LLC boosted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 112.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,990 shares of the company's stock after acquiring an additional 108,016 shares during the period. SG Americas Securities LLC owned 0.17% of Fortune Brands Innovations worth $7,949,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd lifted its position in Fortune Brands Innovations by 586.7% during the 4th quarter. Orbis Allan Gray Ltd now owns 7,272,289 shares of the company's stock valued at $363,760,000 after purchasing an additional 6,213,274 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Fortune Brands Innovations by 16.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,792,715 shares of the company's stock worth $189,717,000 after buying an additional 541,633 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 worth $161,873,000 after buying an additional 544,332 shares during the last quarter. Amundi lifted its holdings in Fortune Brands Innovations by 15.2% in the third quarter. Amundi now owns 2,879,208 shares of the company's stock valued at $152,263,000 after buying an additional 380,275 shares during the period. Finally, Freestone Grove Partners LP lifted its holdings in Fortune Brands Innovations by 143.6% in the fourth quarter. Freestone Grove Partners LP now owns 1,949,958 shares of the company's stock valued at $97,537,000 after buying an additional 1,149,583 shares during the period. 87.60% of the stock is owned by institutional investors.
Fortune Brands Innovations Price Performance
Shares of FBIN stock opened at $46.03 on Friday. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15. Fortune Brands Innovations, Inc. has a 12-month low of $32.34 and a 12-month high of $64.84. The firm has a fifty day moving average of $39.73 and a 200-day moving average of $46.65. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 2.96 and a beta of 1.37.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The firm's revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. On average, equities research analysts forecast that Fortune Brands Innovations, Inc. will post 3.14 earnings per share for the current year.
Fortune Brands Innovations Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.3%. Fortune Brands Innovations's dividend payout ratio (DPR) is currently 46.22%.
Analyst Ratings Changes
A number of analysts have commented on FBIN shares. JPMorgan Chase & Co. lowered 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 report on Friday, May 15th. Bank of America reduced their price target on Fortune Brands Innovations from $52.00 to $42.00 and set an "underperform" rating on the stock in a research report on Monday, April 20th. Truist Financial decreased their price objective on Fortune Brands Innovations from $55.00 to $45.00 and set a "hold" rating for the company in a research note on Friday, May 8th. UBS Group dropped their price objective on Fortune Brands Innovations from $67.00 to $63.00 and set a "buy" rating for the company in a report on Friday, May 8th. Finally, Barclays cut their target price on Fortune Brands Innovations from $43.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Monday, May 11th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Fortune Brands Innovations has an average rating of "Hold" and a consensus target price of $51.31.
Check Out Our Latest Report on FBIN
Insider Activity at Fortune Brands Innovations
In other Fortune Brands Innovations news, Director Edward P. Garden acquired 320,067 shares of the business's stock in a transaction dated Wednesday, June 10th. The shares were acquired at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the acquisition, the director directly owned 3,940,234 shares of the company's stock, valued at approximately $159,973,500.40. This trade represents a 8.84% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 786,367 shares of company stock worth $28,653,958 over the last quarter. Company insiders own 3.32% of the company's stock.
Fortune Brands Innovations Company Profile
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Free Report)
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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