Fortune Brands Innovations (NYSE:FBIN) Director Edward Garden Purchases 320,067 Shares of Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) Director Edward Garden bought 320,067 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were bought at an average cost of $40.60 per share, for a total transaction of $12,994,720.20. Following the transaction, the director owned 3,940,234 shares in the company, valued at approximately $159,973,500.40. The trade was a 8.84% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $42.92 on Friday. The company has a market cap of $5.12 billion, a P/E ratio of 19.08, a P/E/G ratio of 2.61 and a beta of 1.37. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 2.13. The business’s 50 day moving average price is $38.86 and its 200-day moving average price is $47.22. Fortune Brands Innovations, Inc. has a fifty-two week low of $32.34 and a fifty-two week high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 3.13 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio is presently 46.22%.

Analyst Ratings Changes

Several brokerages have recently weighed in on FBIN. Robert W. Baird set a $44.00 price target on Fortune Brands Innovations in a report on Friday, May 8th. 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 report on Monday, April 20th. The Goldman Sachs Group dropped their price objective on Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Wolfe Research set a $64.00 price objective on Fortune Brands Innovations in a research note on Friday, February 13th. Finally, Barclays dropped their price objective 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 research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and an average target price of $51.31.

Institutional Trading of Fortune Brands Innovations

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pictet Asset Management Holding SA boosted its position in Fortune Brands Innovations by 74.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 7,798,078 shares of the company’s stock valued at $303,757,000 after acquiring an additional 3,317,232 shares in the last quarter. Orbis Allan Gray Ltd boosted 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 acquiring an additional 6,213,274 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Fortune Brands Innovations by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,064,086 shares of the company’s stock valued at $158,362,000 after acquiring an additional 271,371 shares in the last quarter. Garden Investment Management L.P. bought a new stake in Fortune Brands Innovations during the 1st quarter valued at $137,471,000. Finally, Bank of New York Mellon Corp boosted its position in 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. Institutional investors own 87.60% of the company’s stock.

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.