Royal Bank of Canada Purchases 328,063 Shares of Fortune Brands Innovations, Inc. $FBIN

Royal Bank of Canada boosted its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 411.4% in the first quarter, Holdings Channel reports. The fund owned 407,802 shares of the company’s stock after acquiring an additional 328,063 shares during the period. Royal Bank of Canada’s holdings in Fortune Brands Innovations were worth $15,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in shares of Fortune Brands Innovations in the first quarter valued at about $551,000. Quantinno Capital Management LP lifted its position in shares of Fortune Brands Innovations by 2.9% during the 1st quarter. Quantinno Capital Management LP now owns 795,709 shares of the company’s stock worth $31,009,000 after purchasing an additional 22,348 shares during the last quarter. Garden Investment Management L.P. bought a new stake in Fortune Brands Innovations during the 1st quarter valued at approximately $137,471,000. SummitTX Capital L.P. boosted its stake in Fortune Brands Innovations by 55.3% during the 1st quarter. SummitTX Capital L.P. now owns 295,061 shares of the company’s stock valued at $11,499,000 after purchasing an additional 105,103 shares during the period. Finally, 44 Wealth Management LLC grew its holdings in Fortune Brands Innovations by 119.4% in the 1st quarter. 44 Wealth Management LLC now owns 12,863 shares of the company’s stock valued at $501,000 after buying an additional 7,001 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Edward P. Garden acquired 320,067 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was bought at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the purchase, the director owned 3,940,234 shares in the company, valued at $159,973,500.40. This represents a 8.84% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have acquired 786,367 shares of company stock valued at $28,653,958. Insiders own 3.32% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $50.37 on Friday. Fortune Brands Innovations, Inc. has a 12 month low of $32.34 and a 12 month high of $64.84. The company has a market capitalization of $6.01 billion, a P/E ratio of 40.95, a P/E/G ratio of 3.21 and a beta of 1.31. The stock has a 50 day moving average of $47.12 and a two-hundred day moving average of $46.22. 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 (NYSE:FBIN) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.55. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.Fortune Brands Innovations’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 earnings per share. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. As a group, equities analysts expect that Fortune Brands Innovations, Inc. will post 3.3 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Friday, August 21st will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, August 21st. Fortune Brands Innovations’s payout ratio is 84.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FBIN shares. BMO Capital Markets upped their price target on Fortune Brands Innovations from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Tuesday, July 28th. Barclays lowered their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Bank of America dropped their target price on shares of 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. Royal Bank Of Canada upped their target price on shares of Fortune Brands Innovations from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Evercore set a $56.00 price target on shares of Fortune Brands Innovations in a report on Wednesday. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.33.

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.