286,448 Shares in Fortune Brands Innovations, Inc. $FBIN Acquired by Systematic Financial Management LP

Systematic Financial Management LP bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 286,448 shares of the company’s stock, valued at approximately $14,328,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Danske Bank A S purchased a new position in Fortune Brands Innovations in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its holdings in Fortune Brands Innovations by 158.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after acquiring an additional 323 shares during the period. V Square Quantitative Management LLC purchased a new position in Fortune Brands Innovations in the 4th quarter worth approximately $28,000. Measured Wealth Private Client Group LLC purchased a new position in Fortune Brands Innovations in the 3rd quarter worth approximately $31,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake 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 valued at $40,000 after buying an additional 477 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FBIN. UBS Group reduced their target price on Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Robert W. Baird set a $44.00 price objective on shares of Fortune Brands Innovations in a report on Friday, May 8th. Barclays dropped their target price on shares of Fortune Brands Innovations from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. The Goldman Sachs Group dropped their target price on shares of Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus price target of $51.31.

Insider Transactions at Fortune Brands Innovations

In other news, Director Edward P. Garden bought 403,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average cost of $33.40 per share, with a total value of $13,460,200.00. Following the completion of the acquisition, the director directly owned 3,556,867 shares in the company, valued at approximately $118,799,357.80. The trade was a 12.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 466,300 shares of company stock worth $15,659,238 over the last quarter. 3.32% of the stock is owned by insiders.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $37.64 on Monday. Fortune Brands Innovations, Inc. has a fifty-two week low of $32.34 and a fifty-two week high of $64.84. The firm’s 50-day simple moving average is $39.09 and its 200 day simple moving average is $48.04. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15. The stock has a market cap of $4.49 billion, a P/E ratio of 16.73, a P/E/G ratio of 2.43 and a beta of 1.40.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The company’s revenue was down 2.1% on a year-over-year basis. Equities analysts expect that Fortune Brands Innovations, Inc. will post 3.13 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s payout ratio is presently 46.22%.

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.