Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys Shares of 16,868 Fortune Brands Innovations, Inc. $FBIN

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 16,868 shares of the company’s stock, valued at approximately $844,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FBIN. Danske Bank A S acquired a new position in shares of Fortune Brands Innovations during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC grew its position in shares of Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after buying an additional 323 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Fortune Brands Innovations during the 4th quarter worth about $28,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter worth about $31,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Fortune Brands Innovations by 180.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 741 shares of the company’s stock worth $40,000 after buying an additional 477 shares during the period. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 3.6%

NYSE FBIN opened at $36.27 on Friday. The firm has a market cap of $4.33 billion, a P/E ratio of 16.12, a P/E/G ratio of 2.26 and a beta of 1.40. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04. The stock’s 50-day moving average is $39.24 and its 200-day moving average is $48.13. Fortune Brands Innovations, Inc. has a one year low of $32.34 and a one year high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm posted $0.66 earnings per share. Fortune Brands Innovations’s revenue was down 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 3.14 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.04 dividend on an annualized basis and a yield of 2.9%. Fortune Brands Innovations’s dividend payout ratio is presently 46.22%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. Barclays reduced their price target on shares of Fortune Brands Innovations from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. Wolfe Research set a $64.00 price target on shares of Fortune Brands Innovations in a research report on Friday, February 13th. The Goldman Sachs Group reduced their price target on shares of Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Finally, Truist Financial reduced their price target on shares of Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average price target of $51.31.

Insiders Place Their Bets

In other news, Director Edward P. Garden bought 403,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $33.40 per share, for a total transaction 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 trade represents a 12.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders have acquired 466,300 shares of company stock valued at $15,659,238. 3.32% of the stock is currently owned by corporate insiders.

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.